In this article, we argue that in the Jena period (1801–1803) Schelling and Hegel both rejected the conception of God as coinciding with the moral order, which they attribute to Fichte; such coincidence, in their view, turned God into a transcendent and merely moral Being. In an effort to demonstrate their distance from Fichte's view, we contend, Schelling and Hegel advocated for a metaphysical (rather than merely moral) and immanent (rather than transcendent) understanding of God, conceived in its inextricable relation (...) with nature and self-consciousness. We conclude by demonstrating that the cooperation between Schelling and Hegel in the Jena period led them to develop an analogous conception of immanence—which already foreshadows, however, the different directions that Schelling and Hegel take in their mature works. (shrink)