In parent – child dyadic psychotherapy, the parent, child, and therapist are simultaneously present within the therapeutic session, and clinical intervention centers on the parent – child relationship and the co-construction of meaning between them. Within this framework, the traditional therapist position is transformed through ongoing relational processes in the here-and-now, alongside a more egalitarian redistribution of power and knowledge within the analytic setting. These processes deepen our understanding of the therapist’s role and the mechanisms of therapeutic change in parent – child dyadic psychotherapy. The paper integrates theoretical discussion with clinical illustrations demonstrating how these relational concepts are enacted in practice, particularly in relation to interpretation, wish fulfillment, parental functioning as co-therapist, authority, and the development of mutual insight. In addition, the therapist’s position of neutrality is examined in light of rupture and repair processes within the parent – child relationship.