Despite his influence on those interested by leisure, Marx's own conception of leisure is rarely discussed. Insofar as it is, he is generally either thought to see leisure as free time or as indistinct from necessary labour in communist society. In this article, I suggest that by reading Capital and the Grundrisse through an Aristotelian lens, we can find a third potential conception of leisure in Marx, which shares three features in common with Aristotle's. Leisure is distinct from free time simpliciter, it is a “state-condition” people are in when they perform ends in themselves, and it is constitutive of the final end. I conclude that adopting a conception of leisure grounded in this Marxian conception could have implications for contemporary debates around free time and the value of leisure goods like arts and culture.