This article attempts to interpret the philosophical doctrine of Aleksej Losev in the form in which it took shape in his works of the late 20s and early 30s of the 20th century. The two most important points of this doctrine are highlighted. First, science and art are considered here within the framework of a common ontological structure for them. Secondly, the dialectical model, developed in the framework of ancient and medieval Platonism, is approved by Losev as a philosophical system, which in the 20th century fully regains its relevance as an adequate theory of the universe. Further, the analysis of the Losev system proposed by Vladimir Bibixin is critically interpreted. This analysis is based mainly on a comparison of Losev's thought with Heidegger's philosophy. At the same time, the dialectical nature of Losev's thought is radically deprecated. For this reason, in this article we attempt to compare the Losev doctrine with the views of Walter Benjamin, for whom, as for Losev, Plato's theory of ideas, dialectics and the essential analogy between art, science and philosophy were of great importance. © 2020 Verlag Otto Sagner. All rights reserved.