Loewald believes that psychoanalytic concepts can be redefined and reinterpreted, seen anew in the face of new data and ways of seeing, thus becoming transformed and transformative. Although he anticipated much of what is new in psychoanalysis in the last thirty years, he also anticipated a more recent integrative trend and a return to classical theory—a return to Freud. This paper summarizes and discusses Loewald's major writings, and argues that his work demonstrates the authentic meaning of psychoanalytic metapsychology.