Akchakhan-kala, a major royal centre of Ancient Chorasmia, is now well known for its remarkable wall paintings. This paper discusses a wholly new form of image, that of a well-preserved and finely rendered recumbent ibex found in Area 10, the "Ceremonial Complex" of the site. Other recently discovered wall paintings in Area 10 are of clearly Zoroastrian character, and the ibex should now also be considered in this light. It is suggested that it may represent Verethraghna/Wahrām, the Avestan god of Victory. The image finds its best parallels in Achaemenid art, looking back to a much earlier artistic legacy.