This paper relies on the analytical tools provided by Ernesto Laclau and Slavoj Zizek in order to study the way in which Argentine president Carlos Menem (1989-1999) rearticulated the Peronist discourse. It also analyses the effects this re-articulation produced in the identity of the Peronist movement. I seek therewith to explain how it was possible to maintain the Peronist identitary ties, within a context of socio-economical policies that were profoundly different from the ones that were previously proclaimed and implemented by Perón between 1946 and 1955. Therefore I analyse the context in which Menemí’s discourse emerged and its entailment with other discourses that began to prevail during that period.