In this paper, going against the main trend, I offer a relativist interpretation of the early Wittgenstein s view of ethical values. If we give an absolutist interpretation, we will have to take Wittgenstein’s claims on ethics at face-value, i. e., the claims that ethical sentences are nonsensical, and there is no subject called ‘ethics’. Cora Diamond, best known for her new, resolute reading of Wittgenstein’s Tractatus, adopts this line of approach. According to Diamond, the early Wittgenstein literally wants readers to take ethical sentences as a collection of nonsense. In my view, however, her approach is wrongheaded, because she fails to give due attention to the real cause of the nonsensicality of ethical sentences. According to Wittgenstein s diagnosis, it is the absolutist view of ethical values which is responsible for the nonsensicality of ethical sentences. This, I argue, leaves us room for interpreting the early Wittgenstein’s view of ethics from a relativist perspective. I also try to defend a relativist interpretation drawing on Wittgenstein’s views of solipsism and happiness.