Literary beauty was once understood as intertwining sensations and ideas, and thus as providing subjective and objective reasons for literary appreciation. However, as theory and philosophy developed, the inevitable claims and counterclaims led to the view that subjective experience was not a reliable guide to literary merit. Literary theory then replaced aesthetics as did philosophy’s focus on literary truth. Along with the demise of the relevance of sensations, literary form also took a back seat. This suggested to some that either literature communicated truth like any other literal form of communication or it was a mere diversion: a springboard to harmless reverie or daydreaming. Neither response satisfactorily captured what was distinctive about literature: the love readers can have for literary texts and the edification or insight claimed of works within each culture’s respective catalogue of classics. However, a concept of literary beauty has again become viable due to developments in theories of pleasure and imagination. If the defining aspect of literature is the imaginative engagement it occasions, and if this imagining is constrained by plausibility and endorsed as effective relative to our goals, ideals, and interests, then literature is not reduced to either mere fact or wish fulfillment. An account of literary beauty is available which defines literature accordingly and explains how subjective and objective reasons for appreciation intertwine to evoke pleasure and insight.