This article provides an empirical exploration of the relation between nationalism and populism on the left of the political spectrum. The Spanish party Podemos is a key case study for such an analysis, as it is a left‐populist actor that has made extensive use of nationalist rhetoric in its discourse. Through a discourse analysis on a corpus that includes speeches by Podemos leadership and primary data such as interviews and original unpublished material, this article studies the nationalist dimension of Podemos and its relation with the party’s much‐discussed populism. The analysis shows that the Podemos leadership deliberately embeds nationalism in its populist strategy: Nationalism is a central element of the party’s populist project and serves to advance an alternative form of national identification that challenges that of the right wing. Through a resignification of national pride and belonging, Podemos constructs an image of Spain that refers to an inclusive welfare state, to people’s mobilization, and to a moral community that is not delimited by lingual or ethnic particularisms.