The objective of this study is to evaluate John Barth`s Chimera in relation to some aspects of his view of postmodernism. Since late 1950`s, some American writers have experimented with a new style of fiction commonly called "self-reflexive novel" or "metafiction." This eventually culminated in the publication, in The Atlantic Monthly, of the controversial article "The Literature of Exhaustion(1967)" by John Barth. What distinguishes Barth from the other postmodern novelists is his theory of a logarithmic spiral, not apocalyptic, progression of humanity and highly experimental narrative techniques as seen in Chimera At first, Chimera has received little critical attention, mostly focused on form and technique. Chimera, however, is not a mere exercise in technique but an artistic product of the ideas such as "writer`s block," exhausted possibilities in the narrative. The idea of exhausted possibilities is a central theme of the novel. Chimera is a series of three novellas. Each of the three novellas illustrates the various literary problems of the traditional fictions. Each is supposed to be an exploration into the possibilities of a new kind of fiction. It is a fiction about its own creation. The characters in Chimera are almost self-conscious. They are linked to one another by events and sentiments. But the most important connections are structural and thematic. Another important factor to understand Chimera is myth. Barth seems to have been interested in the conception of true myth. What especially interested Barth, however, is the relationship between a real life in the present world and a myth in the past. He rewrites myths in order to create new reality in the novel. He does not merely imitate myths but effectively uses them to create the new novel. In the end in Chimera, Barth illustrates the precarious situation of the imminent death of the author. Chimera also is both a novel about the problem of exhausted possibilities in narrative fiction and a solution to that problem.