Hypochondria remains little studied from a theoretical point of view. Whereas psychoanalysts know how difficult it is to handle hypochondriac subjects, the few works studying the relationship between patients and physicians resort to a cognitive-behavioral approach. These latter conclude that the quality of this relationship is more important than the disappearance of the symptoms. The aim of this work is to show how psychoanalysis can conceptualize hypochondria as a disruption of narcissism, leading to an apparent relational deadlock. Considering hypochondria as a narcissistic transference constitutes a useful contribution of psychoanalysis to medicine and psychotherapeutic care.