This paper focuses on Heidegger's 1937 lecture course on the Nietzschean doctrine of the Eternal Recurrence of the Same. Heidegger interprets the motive of recurrence in Nietzsche as the Moment (Augenblick) of the Eternal Recurrence. Through this key motive of the moment, we try then to examine the double function of the doctrine which, on the one hand, refers us back to some essential themes of the existential analytics, whereas, on the other hand, it paves the way for the new confrontation with metaphysics in the Beiträge zur Philosophie. We hold that the turning away from the existential conception of the moment toward its “aletheiological” understanding in terms of a “site of the Moment” (die Augenblicksstätte) takes place in the context of this very lecture course. This transition is even more critical as it constitutes the very heart of Heidegger's critique of subjectivity in the new perspective opened by the history of Being: Nietzsche's doctrine of time provides the basis for this questioning.