As a genre, historical fiction has not been perceived to occupy an esteemed place in literature. Consideration by historians, publishers, teachers, and literary critics ranges wildly from enthusiasm to derision. The convergences and divergences of perspectives on the value of historical fiction indicate that criticism often stems from assumptions based on subject matter and historical accuracy, which hold this genre to certain standards that do not exist for other types of novels. This thesis explores the differences in the perception of historical fiction in publishing, critical circles, and academia, in an effort to determine the distribution of opinions on the genre. The future of the genre affects all three areas, since the reception of historical fiction novels impacts the financial success of the publishing industry, the critical reception of the novels indicates its acceptance as a valid literary genre, and its inclusion in academia and education affects teaching practices. A general trend toward the continued acceptance of the value of historical fiction in these disciplines is emerging and indicates a positive future for the controversial genre.