This paper deals with Heraclitus’ political thought. First, in discussing the conception of cosmic justice, it argues that it is a mistake to separate Heraclitus’ political thought from his cosmological thought. Second, the paper works out two basic principles of Heraclitean political thinking by offering a close analysis of fragment B 114 as well as related texts. According to Heraclitus, (1) there is a standard common and relevant to all human beings in the political realm, namely, the logos, and (2) ruling well is a matter of grasping the logos and using it as a guide in all things political. Finally, the paper tackles the notoriously difficult question of whether there are certain forms of political order towards which Heraclitean thought is more or less inclined. According to what may be called the traditional view, Heraclitus is seen as a supporter of an aristocratic political order, while according to what may be called the revisionist view, Heraclitus is classified as a supporter of a democratic political order. The paper concludes that while Heraclitean philosophy is compatible with a plethora of different forms of political order, including democratic ones, the two basic principles of Heraclitean politics that were distinguished above are more conducive to aristocratic forms of political order.