The purpose of this article is to study the incarnation in ethical terms. And that means to study it as an ethical process, as concerning the whole life of Jesus. It is a common tendency to identify the incarnation with the conception or the birth of Jesus, to make it an event in a moment of time. As the atonement has too often been limited to the death of Jesus, instead of being treated as the outcome of his whole atoning life, so has the incarnation too often been limited to his birth. But if we are to treat it in ethical terms, we have to deal not simply with the incarnate birth but with the incarnate life.