It is now over twenty years since Alejandro Dez Macho announced his discovery of a complete text of the Palestinian Targum contained in the Codex Neofiti I of the Vatican Library. Even before the first volume of the editio princeps was published, the importance of Neofiti 1(N) and its marginal and interlinear glosses (Ngl) was apparent not only to specialists in the Aramaic language, Old Testament studies, and Jewish Literature of the Second Temple, Mishnaic and Talmudic times, but also to New Testament scholars. A particular feature of N which was bound to attract attention sooner or later is its frequent use of the formula Memra (utterance, word) of ahweh in the first chapter of Genesis in place of the Ἐlohim of the Massoretic Text, a feature encountered otherwise only in the Fragmentary Targum (FT). As we shall see presently, the exact significance of the term Memra was once a matter for keen scholarly debate, some asserting that it represented an entity separate from God, an intermediary between God and the created order, others roundly denying that it was any such thing, and regarding it only as a reverent means of avoiding pronunciation of the Holy and Ineffable Name. For reasons shortly to be described it was the latter opinion which finally prevailed and which is now generally accepted as established fact; but in the days before the scholarly debate on Memra was concluded it had been quite common for New Testament scholars to argue that, as an hypostasis and intermediary between God and the world, Memra had formed either the single antecedent, or one of the antecedents, to the Logos of the prologue of St John's Gospel. The presence of Memra in the text of N to Gen. i, and its frequent appearance in the Ngl, has led to renewed scholarly interest in the relationship of Memra to St John's Logos, so much so that A. Dez Macho, McNamara, and Domingo Muoz are all prepared to consider Memra a key concept in any discussion of St John's prologue. With the results of previous scholarship in mind, and in the light of new evidence, it would appear that the time is now right for a critical evaluation of these recent claims.