A new operation for hallux valgus consists of a horizontally directed "V" displacement osteotomy done in the head of the first metatarsal. This procedure corrects most of the primus varus, the valgus tilt of the articular surface of the first metatarsal and, if present, the axial rotation of the great toe. The osteotomy is combined with a release and balancing of soft-tissue structures on both sides of the joint. No casting and usually no internal fixation is necessary. Ambulation is generally recommended on the third postoperative day. The operative techniques, indications for surgery, clinical material, and postoperative care are discussed. The operation, when done correctly, does not result in recurrence of the deformity. Significant complications are rare.