In interwar Romania, the activism of a powerful monarchist political movement led to the emergence of the royal dictatorship (1938–1940) of King Carol II (1930–1940). Despite the major impact this regime had on Romanian society, scholars did not systematically explored its ideological, political and cultural background. Instead, they rather analysed it as a failed experience of personal rule. In this regard, I have tried to answer to a series of fundamental questions related to the modern and nationalist nature of the carolist monarchism. Therefore, I have studied the mechanisms which facilitated the diffusion of fascist ideas and practices, in order to demonstrate the fact that the Romanian royal dictatorship is largely influenced by the ideology and practice of fascist Italy and Nazi Germany. In this article, I first explore the development of the carolist political movement. Secondly, I discuss the issue of transnational fascist exchanges in Europe and in Romania. Thirdly, I examine the fascist orientation and practice of the authoritarian regime, as well as how this phenomenon generates an aestheticization of politics. Finally, in the last part of my analysis, I formulate a series of questions regarding the fascist nature of the Romanian monarchism.