This study revisits Samir Amin’s Marxist conceptual framework as one of the pioneers of the Dependency Theory School that dominated scholarly understandings of the structural relationship between capitalism and underdevelopment. Amin provided a solid economic analysis that explains how the progress of the developed capitalism coincided with underdevelopment in the rest of the world. However, this article will show that Amin’s theoretical and ideological model pushed him to go further in developing a distinctive teleological Marxist theory on history that serves his theory of dependency.