The birth of psychoanalysis at the junction of nineteenth and twentieth centuries was characterized by its concentration on hysteric pathology whereas its focus of exploration has become narcissism and borderline pathology in the second half of the twentieth century. During this period of time not only clinical phenomenon but also cultural entities have revealed that narcissism has become an overemphasized concept. That?s why the zeitgesit in which it flourished was called ?the culture of narcissism.? The phenomenon of narcissm is discussed in respect of various psychoanalytic concepts in this article: Anaclitic and Narcissistic Object Choice; The Contrast of Object Libido and Narcissistic Libido; Narcissistic Personality Disorder; Ego Ideal; the Problematics of Psychosomatic Unity; False Self; Shy Narcissistic Character; ?Mind Object.? Such an exploration is made through a historical perspective from the theory of Sigmund Freud to the contemporary psychoanalytic approaches by focusing on the differences between different schools. Furthermore the therapeutic approaches of Otto Kernberg and Heinz Kohut which are dominant among the psychoanalytic treatments of narcissistic pathology in today?s psychoanalysis will be summarized in respect of their technical characteristics.