Now that more than five decades have passed since Nostra Aetate initiated a new relationship between Jews and Catholics, it has become possible to identify certain basic principles—predicated on an appreciation of ongoing Jewish covenantal life—that are emerging in Catholic ecclesial statements. Such a “theology of shalom” seeks “right relationship” with the Jewish people and “wholeness” in terms of the church's own self-understanding. The article proposes three fundamental axioms. A theology of shalom (1) sees Jews and Christians as co-covenanting companions; (2) respects and reckons with Jewish self-understanding; and (3) focuses on final fulfillment in the future. It elaborates three subpoints for each principle to elucidate several implications and questions. The article concludes with the suggestion that the maturing Catholic-Jewish relationship may be moving into one of mutuality in which both communities can study and learn from their respective covenantal ways of walking with God.