In this essay I try to understand the philosophical value of Nietzsche's critique of morality in Daybreak: Thoughts on the Prejudices of Morality, a book that in the context of Nietzsche studies has often been overlooked. I do this by examining the way in which he criticizes the ungrounded assumptions or so-called prejudices of moral objectivity and the idea that there exists an absolute morality. I also explore the positions from which he criticizes these prejudices, namely from ideas of subjectivity and history, and their respective relation to morality. Finally, I reflect upon what Nietzsche has to say about the possibility of a new understanding of ethics by exploring the implications of his view of bodily affections and linguistic concepts.