It is sometimes said that competition laws are or that they have become “neoliberal”. However, for all the pervasiveness of the concept in the literature, it is still not entirely clear what neoliberalism is, or what a neoliberal competition law comports. The present thesis aims to bridge this gap by exploring the relationship between competition, competition law, and neoliberalism. The thesis is divided into two interrelated parts. Part one is a theoretical analysis of the meaning of competition and competition regulation in the context of neoliberalism. I explain neoliberalism in the broader context of political philosophy and identify two main strands, which I term first-wave and second-wave neoliberalism. I argue that each strand is built on values and assumptions which produce different visions of competition and competition law. Part two, on the other hand, aims is to exemplify what a neoliberal competition law system looks like in practice, with reference to substantive legal and institutional aspects of EU competition law. This thesis makes three main contributions. First, its sheds light on the broader question of the how the normative values and assumptions embedded in political philosophy influence our understanding of competition and how it should be regulated. This has foundational implications for the study and understanding of competition law. Second, the thesis posits that neoliberalism, a political philosophy which grapples with the problem of squaring efficient markets with other values and social arrangements, has been key in defining the role of competition and competition law in society. The example of the EU is given to illustrate how neoliberal ideas translate into concrete legal and institutional mechanisms. Third, the thesis adds nuance to the current understanding of neoliberalism by identifying two main strands and looking more granularly at the differences and similarities between them. This expands our current appreciation of the meaning and complexity of that political philosophy.