This article discusses the work of Margaret Atwood, one of Canada's most prominent contemporary writers, with a particular focus on her exploration of the female theme in her literature. Atwood is known for her interest in issues related to women's self-identification, their presence in society and culture, their priorities, desires, and claims, with a central theme being the secondary status of women compared to men. The article delves into Atwood's novel "The Penelopiad," published in 2005, which reimagines and transforms the ancient myth of Penelope and Odysseus in a new narrative context. It explores how Atwood uses the ancient myth, expanding and altering its content and meaning, to create a qualitatively new female version of well-known events, distinct from the canonical male culture represented by Homer. The novel "The Penelopiad" places the female character, Penelope, at its center. In European culture, Penelope has traditionally been perceived as the faithful wife of a great hero, as clever as her husband. This tradition of defining Penelope through her connection to Odysseus dates back to antiquity. However, Margaret Atwood challenges this tradition by giving Penelope her voice. The author offers readers a unique opportunity to hear Penelope's story "from the horse's mouth," a narrative told with irony that demythologizes the image of the great wanderer. The novel begins with a somewhat ironic tone, drawing readers into a deep monologue with the main character. Notably, the style of the narrative is sarcastically simple and primitive, emphasizing the significant contrast with the original myth of Odysseus, which is filled with complex language, numerous epithets, and comparisons. The use of parody, a humorous genre, gives the narrative its own plot, composition, imagery, and stylistic features. The title of the novel, "The Penelopiad," itself highlights the contrast with Homer's "The Odyssey." By replacing the male name of the great hero with Penelope's female name, Atwood brings the wife of the hero to the forefront of the story. This powerful feminist technique places Penelope on an equal footing with Odysseus, and both stories are intertwined to the point that it becomes impossible to determine which one holds more significance. In contrast to "The Odyssey," "The Penelopiad" should have been a story of a woman's journey. However, such a story would hardly have been possible in a patriarchal society where a woman's place has always been in the household, beside her children and husband, engaged in the mundane chores of running a household. The journey undertaken by the protagonist is symbolic, representing a journey into her own self, self-discovery, and a quest to uncover historical roots and fulfill her genuine desires. Atwood reinterprets the trivial stories about Penelope in a feminist context, portraying them as an attempt by a patriarchal society to belittle women and absolve the truly guilty men. Overall, the article provides an insightful analysis of Margaret Atwood's use of mythology and feminist perspectives in her novel "The Penelopiad." Atwood's work challenges traditional narratives and offers a fresh interpretation of well-known stories from a female point of view, shedding light on the complexities of gender dynamics and power structures in literature and society. Key words: Margaret Atwood, Penelopiad, ancient Greek myth, transformation, history, feminism