Mikhail Bakhtin is one of the greatest thinkers in the field of literary theory and especially the novel. By introducing concepts such as dialogism, polyphony and the carnivalesque in his writings, Bakhtin succeeded in viewing the novel from a quite new angle. His notion of the polyphonic novel- whose defining trait is the multiplicity of the independent voices and consciousnesses of the characters- and his unprecedented view of the carnival and laughter and the regenerative power inherent in these phenomena, provide the reader with useful means to study this genre in a new light. By drawing upon these concepts, we can arrive at a rather original interpretation of Joyce's Ulysses, which is, to many a critic, the greatest novel of the twentieth century. The variety of the voices and consciousnesses that each offers a world-view specific to its own in the novel and Joyces ingenious use of the stream of consciousness technique and interior monologue can add Ulysses to the list of polyphonic novels favored by Bakhtin. Besides, a great number of similarities between Joyce and Rabelais - who, for Bakhtin, immortalized the carnival spirit and its accompanying laughter in literature - allows us to see the presence of these elements in Joyces intrinsically comic novel. By first discussing Ulysses and attempting to describe Bakhtin's main ideas and theories, this study aims to trace in Joyce's Ulysses the two fundamental concepts in Bakhtin's thought, namely polyphony and the carnivalesque.