Fantasy occupies a pivotal, contested position across the depth-psychological corpus, functioning simultaneously as epistemological category, psychic product, therapeutic method, and ontological mode of being. Jung’s foundational definition in Psychological Types distinguishes two meanings — fantasm (a complex of ideas without objective referent) and imaginative activity — while insisting that fantasy is the very medium through which opposites are bridged and psychic life renews itself. Far from a mere wish-fulfillment or escape, Jung treats fantasy as the generative matrix from which all great human achievements emerge. Hillman radicalizes this position: in the archetypal school, fantasy is not an occasional psychic event but the continuous, constitutive activity of soul itself — the way the world is animated and soul is given back to phenomena. Moore, drawing on Hillman and Ficino, grounds this further, arguing that fantasy comprises the images and stories underlying every human action, whether conscious or unconscious. Johnson and Chodorow distinguish passive fantasy from the disciplined engagement of active imagination, treating the former as raw material to be rendered productive through deliberate participation. Kalsched reveals fantasy’s survival function under trauma, where archetypal fantasy sustains a fragile ego in dissociated states. Samuels maps the concept’s proximity to Kleinian unconscious phantasy, noting critical differences from the archetype. The corpus thus charts a field in which fantasy ranges from pathology’s raw symptom to soul’s primary language.