In this article the author compares Aristotle’s and Peirces’s analyses of analogical inference from a formal point of view, namely, without paying attention to the rhetorical and argumentative use of analogy. From this formal point of view, both philosophers agree upon the nature of analogy as a composed inference, but disagree upon the simple elements that compose it. Aristotle claims that analogy is composed only by induction and deduction; whereas Peirce, in his last account, includes abduction as well as a third element. The author of this article claims that Aristotle’s account is the right due to it is clearer and more sufficient; instead, Peirce’s account is confuse and unsatisfactory.