The Positive and Negative Affect Schedule (PANAS) is a widely used inventory for the assessment of affect in psychology and other applied sciences. Despite its popularity, the structure of the PANAS is still under debate. On the one hand, there is evidence of the traditional 2-factor model with Positive Affect (PA) and Negative Affect (NA) as uncorrelated factors. On the other hand, a more complex structure of the PANAS has been discussed. To shed further light on the core dimensions of the PANAS, 2 studies investigated the structure of the PANAS in 2 German samples (N = 354 and N = 364, respectively) by means of confirmatory factor analysis. The factor analysis results of Study 1 for a traitlike time frame instruction suggested a suboptimal model fit for the uncorrelated 2-factor model and the 3-factor model with PA, Afraid, and Upset as factors, whereas a superior model fit occurred for a bifactor model with traitlike PA, NA, and a general 3rd factor named Affective Polarity. In Study 2, the bifactor model was replicated for a statelike PANAS time frame instruction and evidence of criterion validity was provided for PA, NA, and Affective Polarity factors in 2 sex offender subgroups and in a community sample. With Affective Polarity, we introduce an affect dimension that captures additional variance beyond PA and NA. Because of the adjectives with relevant loadings on Affective Polarity, this general factor represents an individual's orientation toward approach and withdrawal, respectively. (Contains 2 figures and 2 tables.)