Among the multitude of musical adaptations of Cervantes’s Don Quixote, the symphonic poem which bears the same title by Richard Strauss (1864-1949) enjoys the most popularity and reputation. Though premiered as early as 1898, most of the studies on Strauss’s Don Quixote are limited to analysis on motif, theme, tonality, and instrumentation, while little has been done to examine and explore the aesthetics of “Fantastische Variationen,” a subtitle which the composer himself has carefully chosen for his masterpiece. This article will look into the relationship between the literary text and its musical adaptation in order to probe into the implications generated by the term “Fantastische Variationen” as well as the meanings created by the intertextuality between word and music.