This paper provides a critical overview of the realist current in contemporary political philosophy. We define political realism on the basis of its attempt to give varying degrees of autonomy to politics as a sphere of human activity, in large part through its exploration of the sources of normativity appropriate for the political, and so distinguish sharply between political realism and non-ideal theory. We then identify and discuss four key arguments advanced by political realists: from ideology, from the relationship of ethics to politics, from the priority of legitimacy over justice, and from the nature of political judgment. Next, we ask to what extent realism is a methodological approach as opposed to a substantive political position, and so discuss the relationship between realism and a few such positions. We close by pointing out the links between contemporary realism and the realist strand that runs through much of the history of Western political thought.Much contemporary Anglo-American political philosophy operates as a branch of applied ethics: normative political theory is supposed to implement moral commitments external to politics, be they teleological ideals or deontological constraints. However in recent years-under the loose label of 'political realism'-an alternative approach has emerged, or perhaps reemerged (Galston 2010; Runciman 2012). Crudely, realists maintain that political philosophy should not seek to regiment politics through morality; rather, it should theorise about the distinctive forces that shape real politics. Critics of realism see this move as a capitulation of normative theory in favour of descriptive approaches to politics. Realists see it as a way to make political philosophy more relevant and less ideological.This article has two main objectives and as many main sections. First, we propose a working definition of realism, and a critical overview of what we take to be the four key arguments in favour of that position. Second, we explore the status of realist theory: is it best characterised as a series of methodological concerns or does it represent a substantive political position it is own right? In the brief conclusion we discuss to what extent realism is (or could be) a new development rather than a revival of a traditional current of political thinking.