This research aims to understand and describe how meaningful relationships between adults and children take place and are understood in preschool practice through the core concepts of subjectification as a process that results from 'existential meetings'. Research performed in Swedish preschools mostly focuses on children's learning and on socialization through adults' actions or children's agency. Research that focuses on the relationship between adults and children in preschool is however, limited. Biesta (2011) discussed the functions of education; qualification, socialization and subjectification. In order to understand the complexity of subjectification, Aspelin (2010) believes that a fourth function is needed – 'existential meetings' that aim to strengthen children's personal development. In this research, we view this as an important preschool function. The theoretical perspective is based on Aspelin's concept of existential meetings, also related to co-existence/co-operation and closeness/distance (Aspelin & Persson, 2011). This research followed a reflective and critical approach, and is based on 37,5h of video observations. The material is analysed through a deductive approach and was approved by the Swedish Ethics Committee for Research. All participants have given consent and are anonymized. The findings reveal that the relationship between adults and children can have potential for strengthening children's personal development. But this is dependent on whether the teacher can balance between 'closeness' and 'distance'. This research has implication for preschool practice and contributes to a better understanding of how existential meetings through meaningful relationships can take place (and be organized) in preschool practice.