Neutrality for peace modeled on Switzerland has long been a vision for the Taiwanese. Nevertheless, it has remained a romantic reverie in short of serious political appeal, and not to mention comprehensive studies or practical appraisals of its desirability and feasibility. In this article, we will first examine the concept of neutrality, look into the rationality for pursuing neutrality, and scrutinize approaches for its application. Finally, we will conclude with a reflection of neutrality as a grand strategy option for Taiwan.