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This article discusses the question of truth claims in psychoanalysis, revolving around the concepts “construction”, “reconstruction”, “historical truth” and “narrative truth”. In Part I of the article, these concepts are discussed in an historical context, in particular, Freud's view, the narrative tradition and some of Bion's ideas. In Part II, an attempt is made to synthesize these concepts. It is argued that the constructed character of the unconscious has to be integrated into the patient's reconstruction of hislher life story. The psychoanalytic project enables the patient to create a new narrative that claims to possess historical validity. It is important in this context not to understand the notion of “history” objectivistically as if it were a question of revealing certain objective historical facts. Instead, it is suggested that the connection between the present understanding of the past and the past as it was experienced in the past should be understood as a fusion of horizons. Finally, the necessary function of consciousness/self-consciousness for the psychoanalytic project of acquiring knowledge about one's unconscious is pointed out.