Nietzsche's critical stance toward morality appears to support some version of moral relativism. Yet he praises some actions and attributes while condemning others. Are these evaluations expressions of his moral prejudices, or is there a basis for them in his thought? Through a close reading of key passages from ThusSpokeZarathustra, I attempt to demonstrate that morality for Nietzsche is the historically situated working-out of will to power and therefore subject to critique on that basis.