Abstract: In the context of the tradition of the artist’s book, considered as the result of the radical recasting of the text-image relationship within the avant-gardes, La Femme 100 têtes – Max Ernst’s first collage novel – overcomes the associative schema between image and poetic text of the four-handed model typical of surrealist books. From the analysis of the relationship between iconographic and textual material, this essay aims to reconstruct the narrative strategies in action in Ernst’s work.