The aim of this paper is to elucidate Franz Brentano's concept of immanent object through his own words and from his own perspective. The prevalent account of Brentano's revival of intentionality, his initial failure to distinguish between object and content, and his wrong‐headed immanentism, is largely derived from his students. Brentano's objection to it, although well known, is seldom heeded. In fact, plenty of guidelines have been provided by Brentano himself in his writings on how his concept of immanent object (...) is to be understood. I begin with his distinction between two senses of “object,” which, I argue, must be clearly set apart from distinction between two modes of object. I then examine three different interpretations of the term “in‐existence”: the locative, the inherentist, and the objective interpretation. In the end, after dismissing the first two interpretations, I argue that Brentano is best understood as maintaining an objective and deflationary account of mental in‐existence. (shrink)