This article examines a loss metaphor that has been used to conceptualize clients' experience of termination for over 40 years. Review of contemporary theoretical and empirical research in clinical and developmental psychology implicates directions for revising, expanding, and modernizing this approach to termination for short-term psychotherapy. Specifically, the predictions that termination is inherently a crisis for clients and therapists were not confirmed in extant research. However, other aspects of the termination-as-loss model could be updated to be consistent with current theory and research. Several recommendations for a more contemporary approach to termination were made. In particular, a termination-as-transformation metaphor seems to incorporate current theory and research as well as critical aspects of the traditional approach to termination.Theoretical and empirical research on termination has accumulated very slowly, and much of the research is shrouded in debate and controversy. At the heart of the controversy over termination is the termination-as-loss model, which is the expectation that clients experience the end of psychotherapy as a significant loss. It is noteworthy that this model has been recently adopted in theories of short-term and time-limited psychotherapy (e.g., Bauer & Kobos, 1987;Mann, 1973;Strupp & Binder, 1984). Although versions of the termination-as-loss model have been around for over four decades (e.g., Balint, 1950), there has not been a significant attempt to update and overhaul critical components of this model in light of contemporary research and theory. There are indications, however, that there are problematic aspects of this model. This has led some authors to disregard this approach to termination and some to suggest that termination is a trivial aspect of therapy (Budman & Gurman, 1988;Hill, Carter, & O'Farrell, 1983). In the absence of either a contemporary revision of the termination-asloss model or an alternative conceptualization of termination, authors have turned to pragmatic, somewhat atheoretical, approaches to termination (e.g., Budman & Gurman, 1988;Pinkerton & Rockwell, 1990). Therefore, the purpose of this article is to examine the termination-as-loss model in order to discard aspects of this model that are particularly problematic and to update and expand more valuable aspects of this model to STEPHEN M. QUINTANA received his PhD from the University of Notre Dame in 1989. He is currently an Assistant Professor in the Counseling Psychology Program at the University of Texas at Austin. He teaches a course on short-term psychotherapy and conducts research on processes in short-term psychotherapy, ego development in adolescence, and development of Mexican-American children.