This article provides a theoretical and descriptive study of various approaches to the concept of equivalence. Taking the possibiliy of the term "equivalence" for granted, and after clarifying what is understood by the term, the present essay groups various approaches in three sections, thus analysing the concept from three different stances. The first depends on whether the translator is faithfull to the author of the source text or to the reader of the target rendering; the second approach is influenced by Linguistics, paying attention to the units of equivalence; the third, being more culturally and socially rooted, is based on the polysystem theories. The essay then sets out to determine which of the three approaches is more appropriate to help translators in their task. It reaches a conclusion about these theoretical ideas on equivalence, and about how they should influence the process of translation. It goes beyond the limitations of the approaches studied by placing the tanslator - and not methods or theories - at the centre of the translating process. Therefore, it recommends trusting translators, and advises them to live up to their readers' and critics' expectations by carrying out a serious, global analysis before deciding which type of equivalence to apply.