The possibility of using deepfake technology to create synthetic media content in journalism requires careful ethical deliberations. Being that journalism is a norm-oriented social institution, there should be a commitment to ethical principles, which raises questions about the compatibility of this technology’s application with journalistic norms. There is a lack of knowledge on how these challenges can be addressed. This research presents four lenses on the compatibility of deepfakes with journalism, which emerged from a qualitative study involving 26 journalists. First, the understanding of deepfakes shapes how their use is evaluated. Second, judgments depend on what is manipulated in the deepfake and to what extent. Third, journalists need to carefully consider the connection between deepfakes and reality. Finally, specific normative preconditions must be met for the application of deepfakes in journalism. This study argues that the compatibility of deepfake technology with journalistic ethics varies, depending on whether it is used to create or manipulate (1) the presentation, (2) the content, or (3) the subject of the content or the event itself. Although there are numerous possibilities to integrate deepfake technology in journalism, it is imperative that journalism remains resilient in upholding its fundamental norms and ethical standards.