This is an analysis of the Constitutional Referendum 2008 in Ecuador through the examination of the political field and its actors. The article offers an interpretation of the dynamics currently at play in the national political arena, based on an analysis of the political campaign and a breakdown of the electoral results. The work draws on a close examination of the written press, as well as on the declarations made by diverse actors through other means of mass communication. It discusses some of the possible challenges to arise in the Ecuadorian political arena following the victory of the “Yes”, which obtained 63.93% of the votes in the referendum.