Sexuality is alive and well and living in psychoanalysis . You just have to know where to look for it-conduct a treasure hunt in which the prize is hiding in plain sight. At the same time, the reports of sexuality's death are not exactly wrong either. This apparent contradiction, really a paradox, deserves some unpacking. This chapter entertains three main themes: the psychoanalytic paradigm shift from sex to object relation; the problem of discharge and the solution of Lust; and the anxiety of erotic countertransference. These themes wind through a series of arguments: the history of desexualization in psychosexual theory; libido and the changing idea of nature in psychoanalysis; and desire and interpretation in clinical practice.