School "turnaround" has received significant attention recently in education literature and policy action, especially as a means to dramatically improve urban education. In current common education usage, "turnaround" refers to the rapid, significant improvement in the academic achievement of persistently low-achieving schools. Employing a conceptual framework informed by research regarding school reform history, the school leadership fashion cycle, and paradoxes in educational innovation and reform, this exploratory study examines policy documents, foundation works, and empirical studies in considering the historical roots, current recommended practices, and outcomes to date of the turnaround reform movement. We present the results of our inquiry in the form of a series of vexing paradoxes that characterize the recent fervor for school turnaround at the same time they signal the promise and pitfalls of the reform idea. We conclude by examining implications for urban school policy makers and school-based leaders.