We describe the optical layout of the Large Binocular Telescope. Recent changes in the baseline optical configuration include moving the wide field foci above the primaries to allow a one degree field at F/4. The infrared F/15 secondaries are now a Gregorian design to allow maximum flexibility for adaptive optics. The F/15 secondaries are undersized to provide a low thermal background focal plane which is unvignetted over a 4 arcminute diameter field- of-view. The interferometric focus combining the light from the two 8.4 meter primaries will reimage two folded Gregorian focal planes to a central location. The telescope elevation structure accommodates swing arms which allow rapid interchange of the various secondary and tertiary mirrors. Using swing arms has allowed us to remove most of the superstructure supporting the spiders in an earlier version of the design. Maximum stiffness and minimal thermal disturbance continue to be important drivers for the detailed design of the telescope. By concentrating the structural mass between the two elevation C-rings, we are able to achieve a 2 Hz increase in the lowest eigenfrequency without increasing the mass of the elevation structure. The telescope structure accommodates installation of a vacuum bell jar for aluminizing the primary mirrors in-situ on the telescope. The detailed design of the telescope structure will be completed during 1994.