Research on the medieval doctrine of the transcendentals is still characterized by one debate: its characteristic peculiarity vs. its structural correspondence to the modern concept of transcendentality. The present study on Peter Aureol’s († 1322) doctrine of transcendentals offers a contribution to that discussion by delimiting from both directions: by developing Aureol’s position in contrast to the contemporary position of a scotist-orientated, formalistic realism, it sheds light on the innovative traits in his doctrine. On the other hand, Aureol’s logico-semantical revision of metaphysics is presented as an intentional affirmation of tradition, so that a revised view can be taken of Aureol’s role within the development of a modern metaphysics of the object as such.