This paper emerges after the lost of one Portuguese climber, who died in his descent from Shishapangma, one of the 14 mountains in Himalayas. Taking into account this climber’s death and all the others that are not reported, the issue of risk in sport and physical activities, like climbing, is noteworthy. This paper attempts to redress this imbalance through an approach to voluntary risk-taking in high-altitude climbing, where risk can be seen as part of the activity or even as an end. For this intent it is crucial to consider what does this activity signifies to its adherents, analysing the ways in which this activity is invested with and how these meanings may change. After a brief characterization of high-altitude climbing as a risky activity, our paper it is divided in the following sections: i) Control of risk vs. control of life; ii) Risk-taking as a form of transgression; iii) Adventure in high-altitude climbing; iv) Risk as an aestheticization of the experience; v) High-altitude climbing as a form of transcendence and self-overcoming and vi) Social recognition and distinction. This enumeration did not have the goal to isolate meanings; however our re?ection allowed perceiving that they are all linke