diff --git a/doc/api.txt b/doc/api.txt
index 4e6fbb0f23c..3b72f555c9e 100644
--- a/doc/api.txt
+++ b/doc/api.txt
@@ -60,6 +60,11 @@ error reporting.
 +__filename+ ::
 The filename of the script being executed.
 
++__module+ ::
+A reference to the current module (of type +node.Module+). In particular
++__module.exports+ is the same as the +exports+ object. See +src/node.js+ for
+more information.
+
 +require(path)+ ::
 See the modules section.
 
diff --git a/src/node.js b/src/node.js
index 05de28bd59e..a086edd22ff 100644
--- a/src/node.js
+++ b/src/node.js
@@ -120,7 +120,7 @@ if (ENV["NODE_LIBRARY_PATHS"]) {
 node.Module = function (filename, parent) {
   node.assert(filename.charAt(0) == "/");
   this.filename = filename;
-  this.target = {};
+  this.exports = {};
   this.parent = parent;
 
   this.loaded = false;
@@ -137,7 +137,7 @@ node.Module.cache = {};
     if (fullPath in node.Module.cache) {
       module = node.Module.cache[fullPath];
       setTimeout(function () {
-        loadPromise.emitSuccess(module.target);
+        loadPromise.emitSuccess(module.exports);
       }, 0);
     } else {
       module = new node.Module(fullPath, parent);
@@ -167,13 +167,13 @@ node.Module.cache = {};
     }
   }
 
-  node.loadModule = function (requestedPath, target, parent) {
+  node.loadModule = function (requestedPath, exports, parent) {
     var loadPromise = new node.Promise();
 
-    // On success copy the loaded properties into the target
+    // On success copy the loaded properties into the exports
     loadPromise.addCallback(function (t) {
       for (var prop in t) {
-        if (t.hasOwnProperty(prop)) target[prop] = t[prop];
+        if (t.hasOwnProperty(prop)) exports[prop] = t[prop];
       }
     });
 
@@ -232,8 +232,8 @@ node.Module.prototype.loadObject = function (loadPromise) {
   node.fs.exists(self.filename, function (does_exist) {
     if (does_exist) {
       self.loaded = true;
-      node.dlopen(self.filename, self.target); // FIXME synchronus
-      loadPromise.emitSuccess(self.target);
+      node.dlopen(self.filename, self.exports); // FIXME synchronus
+      loadPromise.emitSuccess(self.exports);
     } else {
       loadPromise.emitError(new Error("Error reading " + self.filename));
     }
@@ -263,14 +263,14 @@ node.Module.prototype.loadScript = function (loadPromise) {
     require.async = requireAsync;
 
     // create wrapper function
-    var wrapper = "function (__filename, exports, require) { " + content + "\n};";
+    var wrapper = "function (__module, __filename, exports, require) { " + content + "\n};";
     var compiled_wrapper = node.compile(wrapper, self.filename);
 
-    compiled_wrapper.apply(self.target, [self.filename, self.target, require]);
+    compiled_wrapper.apply(self.exports, [self, self.filename, self.exports, require]);
 
     self.waitChildrenLoad(function () {
       self.loaded = true;
-      loadPromise.emitSuccess(self.target);
+      loadPromise.emitSuccess(self.exports);
     });
   });
 };