This article presents a new reading of the Dārāb-nāma (Book of Dārāb, ca. eleventh–twelfth century), a medieval popular narrative in prose (dāstān) ascribed to the storyteller Abū Ṭāhir Ṭarsūsī. While the narrative belongs to the Persian tradition of the Alexander romance, the Alexander figure it depicts bears little resemblance to that presented in high classical verse-forms by the likes of Firdawsī, Niẓāmī, Amīr Khusraw Dihlavī, or Jāmī. Although still a conqueror, legitimate ruler, and champion of Islam, the Alexander of the Dārāb-nāma appears in a strongly negative light: he is lame, cowardly, and sly. In fact, most of his success he owes to his once opponent and later wife, Būrān-dukht: could she be the true hero in the story? Drawing on a critical examination of characters based on Greimas's actantial model, this study probes the authorial program and intended audience of the Dārāb-nāma, and suggests the work can be read as mock-epic, possibly to cater to a Zoroastrian audience.