Antonio Gramsci, having an important place in Marxist thought tradition, made theoretically original and important contributions to the fascism analysis. In this context, Gramsci analyzed the conjuncture, ensuring the development of fascism as a movement and then its accession to power, in Italian political life after the First World War in political and class contexts and also pointed out the crucial role of petit bourgeoisie during that period. Moreover, he made some predicts about the fascist up period in Italy in line with his analyses. According to the dialectical method he used, while he was analyzing the development of fascism in Italy, he competently presented the dichotomies imposed to the society by the Italian capitalism, being in a crisis, dichotomies emerged from the different tendencies in the fascist movement and also the dichotomies arising from the difference of opinion between the communists in their struggle against fascism. The fascism analyses of Gramsci, whose thoughts on fascism maintain their importance even today, are examined in this study.