This work discusses the ongoing debate concerning the notion of salvation history in the Hebrew Bible and its relation to the ancient world. The author also proposes new directions in our present understanding of salvation history and its importance for the Israelite ethos. Contents: The Concept of Salvation; Advocates of Salvation History Theology; The Critical Theological Response; Ancient Near Eastern and Biblical Theology; Salvation History Themes in the Ancient Near East; Continuity of Basic Religious Values between Israel and the Ancient Near East; The Continuing Debate over Israel's Concept of Salvation History; Reconstruction of a Salvation History Model; Impetus for Change; General Conclusions. Co-published with the College Theology Society.