Abstract In his theory of time Aristotle does not often mention the present time and nowhere gives a detailed account of it. Nonetheless, present time plays an important role in his conception. I primarily argue for the following claims: (1) According to Aristotle there is a perception of motion and there is a perception of time. These combined perceptions can neither occur in the past nor in the future nor in an indivisible now. Thus, there must be a present time. (2) Aristotle acknowledges the passage of time. This passage of time can only be understood as a passing present. And since an indivisible now cannot pass, the passage of time delivers a further argument for the basic assumption of a present time. – For the most part I simply follow Aristotle’s argument in Physics IV 10 and 11. In doing so, I distinguish present time and now in the introductory puzzles, investigate the passing present in the co-perception of change and time, discuss the relation between change and the passage of time as well as the relation between the passing present and the different nows.