Acts 3:12-26 challenges the exegete with a variety of unique features and fascinating problems. This work focuses on the meaning of the phrases "the times of refreshing" and "the times of the restoration of all things." The sermon was found to have even deeper roots in first century Judaism than is evident on the surface. The structural unity of the passage is expounded in a new way. The strong evidence for Lukan vocabulary and style is quantified using computer-assisted frequency analysis. The sermon is at once very Semitic and very Lukan. This is not due to Luke's literary artistry in archaizing and semitizing his own composition but is rather seen as evidence of historical authenticity. Though some scholars locate the source of the concepts of the two "times" in apocalyptic literature, the evidence for both concepts is overwhelmingly abundant in the Old Testament itself. Against a recent tendency to see the fulfillment of the two "times" in the present age, the author concludes that both refer to the period of the restoration of Israel concomitant with the return of Messiah. The restoration of Israel is referred to elsewhere in the New Testament as "the redemption of Israel," "the consolation of Israel," "the kingdom of God," and "the hope of Israel." The theme of "rest" in the Scripture was found to be intimately related to this concept. In relating the findings to current themes in Lukan theology, the author finds that the passage supports the idea that Luke had a genuine affection for the Jews, and though describing the tragedy of their failure to repent, probably believed in their ultimate restoration. The Parousia is delayed because the nation as a whole failed to repent and accept Jesus as Messiah. New ground was broken in exegetical problems. The "awkwardness" in 3:16 is seen as a type of Semitic parallelism with "heaven" as a periphrasis for "God" and "His name" as a possible title of Messiah. Evidence was found that 3:26 has been mistranslated in a transitive sense in most English versions and that usd\varepsilon\nuusd usd\tau\tilde\omegausd usd\alpha\pi o\sigma\tau\rho\acute{\varepsilon}\varphi\varepsilon\iota\nuusd usd\acute{\varepsilon}\kappa\alpha\sigma\tau o\nuusd should be understood intransitively "when each turns."