Despite a range of scholars, media ethicists, and practitioners claiming its centrality to journalistic practice, the role of the imagination in literary journalism is somewhat ambiguous and, consequently, often misunderstood. This is arguably due to the ambivalent relationship scholars and philosophers have historically had with this powerful mental faculty and the close connection between the imagination, invention, and the writing of fiction. As this essay argues, however, invention and imagination are not synonymous; indeed, according to epistemologist Lorraine Code, reason and imagination work together to produce narrative forms that are essential for the characterization of human action. This inquiry begins with a brief historical survey of the historical developments that inform a contemporary understanding of the role of the imagination and continues by offering an initial investigation into a range of ways such an understanding can impact literary journalistic practice. Some of the areas discussed include: time, immersion, emplotment, and the relationship between knowledge and understanding. The study also suggests that the imagination has an ethical role to play in the construction of literary journalism, arguing that imaginative projection should not be thought of as a fanciful invention, but rather as an epistemological and moral exercise that recognizes the potential radical difference of experience between practitioner and subject. Thus, the exploration finds that the imagination is indeed a key component of literary journalistic practice and further proposes that practitioners and theorists alike can benefit from a deeper understanding of its role in the representation of reality.