Psalm 117 is a well-known and at the same time an unknown psalm. It is a well-known psalm because it is known as the shortest psalm in the Psalter. Psalm 117 is also an unknown psalm. There is little reflection on this mini-psalm. This contribution offers an exegesis of Psalm 117 paying attention to the extent, text critical matters, structural features, literary genre, setting in life and tradition material referred to. The article argues for an exilic reading of the psalm over and above the usual post-exilic dating of the psalm.