Aristotle begins his famous discussion of time in Book Δ of The Physics by asking whether time belongs to “the things that exist.” In this paper I argue that Aristotle’s apparently ambiguous answer to this question holds one of the keys to clarifying contemporary philosophy of time . First, I argue that the metaphysical and meta-philosophical presuppositions underlying most philosophy of time are deeply flawed. Second, that Aristotle provides us with a much more plausible alternative set of presuppositions about the (...) nature of time . The Aristotelian conception of time as part of the subject matter of physics or “the philosophy of nature” is particularly illuminating. Finally, I examine several issues about the nature and reality of time often raised in the context of contemporary physics and show how the Aristotelian perspective can resolve those puzzles. (shrink)