<?xml version="1.0" encoding="utf-8"?>
<InstanceReport xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xsd="http://www.w3.org/2001/XMLSchema">
  <Version>1.0.0.3</Version>
  <hasSegments>false</hasSegments>
  <ReportName>Share Repurchase</ReportName>
  <RoundingOption />
  <Columns>
    <Column>
      <LabelColumn>false</LabelColumn>
      <Id>1</Id>
      <Labels>
        <Label Id="1" Label="6 Months Ended" />
        <Label Id="2" Label="Aug. 01, 2009" />
        <Label Id="4" Label="USD / shares" />
      </Labels>
      <CurrencySymbol>$</CurrencySymbol>
      <hasSegments>false</hasSegments>
      <hasScenarios>false</hasScenarios>
      <Segments />
      <Scenarios />
      <Units>
        <Unit>
          <UnitID>shares</UnitID>
          <UnitType>Standard</UnitType>
          <StandardMeasure>
            <MeasureSchema>http://www.xbrl.org/2003/instance</MeasureSchema>
            <MeasureValue>shares</MeasureValue>
            <MeasureNamespace>xbrli</MeasureNamespace>
          </StandardMeasure>
          <Scale>0</Scale>
        </Unit>
        <Unit>
          <UnitID>USD</UnitID>
          <UnitType>Standard</UnitType>
          <StandardMeasure>
            <MeasureSchema>http://www.xbrl.org/2003/iso4217</MeasureSchema>
            <MeasureValue>USD</MeasureValue>
            <MeasureNamespace>iso4217</MeasureNamespace>
          </StandardMeasure>
          <Scale>0</Scale>
        </Unit>
        <Unit>
          <UnitID>USDPerShare</UnitID>
          <UnitType>Divide</UnitType>
          <NumeratorMeasure>
            <MeasureSchema>http://www.xbrl.org/2003/iso4217</MeasureSchema>
            <MeasureValue>USD</MeasureValue>
            <MeasureNamespace>iso4217</MeasureNamespace>
          </NumeratorMeasure>
          <DenominatorMeasure>
            <MeasureSchema>http://www.xbrl.org/2003/instance</MeasureSchema>
            <MeasureValue>shares</MeasureValue>
            <MeasureNamespace>xbrli</MeasureNamespace>
          </DenominatorMeasure>
          <Scale>0</Scale>
        </Unit>
      </Units>
    </Column>
  </Columns>
  <Rows>
    <Row>
      <Id>2</Id>
      <Label>Notes to Consolidated Financial Statements</Label>
      <Level>0</Level>
      <ElementName>tgt_NotesToConsolidatedFinancialStatementsAbstract</ElementName>
      <ElementPrefix>tgt</ElementPrefix>
      <IsBaseElement>false</IsBaseElement>
      <BalanceType>na</BalanceType>
      <PeriodType>duration</PeriodType>
      <ElementDataType>string</ElementDataType>
      <ShortDefinition>No definition available.</ShortDefinition>
      <IsReportTitle>false</IsReportTitle>
      <IsSegmentTitle>false</IsSegmentTitle>
      <IsSubReportEnd>false</IsSubReportEnd>
      <IsCalendarTitle>false</IsCalendarTitle>
      <IsTuple>false</IsTuple>
      <IsAbstractGroupTitle>true</IsAbstractGroupTitle>
      <IsBeginningBalance>false</IsBeginningBalance>
      <IsEndingBalance>false</IsEndingBalance>
      <IsEPS>false</IsEPS>
      <Cells>
        <Cell>
          <Id>1</Id>
          <ShowCurrencySymbol>false</ShowCurrencySymbol>
          <IsNumeric>false</IsNumeric>
          <NumericAmount>0</NumericAmount>
          <RoundedNumericAmount>0</RoundedNumericAmount>
          <NonNumbericText />
          <NonNumericTextHeader />
          <FootnoteIndexer />
          <hasSegments>false</hasSegments>
          <hasScenarios>false</hasScenarios>
        </Cell>
      </Cells>
      <ElementDefenition>No definition available.</ElementDefenition>
      <IsTotalLabel>false</IsTotalLabel>
    </Row>
    <Row>
      <Id>3</Id>
      <Label>Share Repurchase</Label>
      <Level>1</Level>
      <ElementName>us-gaap_ScheduleOfTreasuryStockByClassTextBlock</ElementName>
      <ElementPrefix>us-gaap</ElementPrefix>
      <IsBaseElement>true</IsBaseElement>
      <BalanceType>na</BalanceType>
      <PeriodType>duration</PeriodType>
      <ElementDataType>string</ElementDataType>
      <ShortDefinition>No definition available.</ShortDefinition>
      <IsReportTitle>false</IsReportTitle>
      <IsSegmentTitle>false</IsSegmentTitle>
      <IsSubReportEnd>false</IsSubReportEnd>
      <IsCalendarTitle>false</IsCalendarTitle>
      <IsTuple>false</IsTuple>
      <IsAbstractGroupTitle>false</IsAbstractGroupTitle>
      <IsBeginningBalance>false</IsBeginningBalance>
      <IsEndingBalance>false</IsEndingBalance>
      <IsEPS>false</IsEPS>
      <Cells>
        <Cell>
          <Id>1</Id>
          <ShowCurrencySymbol>false</ShowCurrencySymbol>
          <IsNumeric>false</IsNumeric>
          <NumericAmount>0</NumericAmount>
          <RoundedNumericAmount>0</RoundedNumericAmount>
          <NonNumbericText>&lt;!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"&gt;
&lt;HTML&gt;&lt;HEAD&gt;
&lt;META http-equiv=Content-Type content="text/html; charset=utf-8"&gt;
&lt;META content="MSHTML 6.00.2900.3492" name=GENERATOR&gt;&lt;/HEAD&gt;
&lt;BODY&gt;
&lt;P
style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify; punctuation-wrap: simple"&gt;&lt;FONT
style="FONT-SIZE: 10pt" face="Times New Roman" size=2&gt;&lt;/FONT&gt;&amp;nbsp;&lt;/P&gt;
&lt;P
style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify; punctuation-wrap: simple"&gt;&lt;B&gt;&lt;FONT
style="FONT-WEIGHT: bold; FONT-SIZE: 10pt" face="Times New Roman"
size=2&gt;9.&amp;nbsp; Share Repurchase&lt;/FONT&gt;&lt;/B&gt;&lt;/P&gt;
&lt;P
style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify; punctuation-wrap: simple"&gt;&lt;FONT
style="FONT-SIZE: 10pt" face="Times New Roman" size=2&gt;&lt;/FONT&gt;&amp;nbsp;&lt;/P&gt;
&lt;P
style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify; punctuation-wrap: simple"&gt;&lt;FONT
style="FONT-SIZE: 10pt" face="Times New Roman" size=2&gt;During the three months
ended August&amp;nbsp;1, 2009, we repurchased &lt;/FONT&gt;&lt;FONT style="FONT-SIZE: 10pt"
size=2&gt;0.5&lt;B&gt; &lt;/B&gt;million shares of our common stock, for a total cash
investment of $20 million (average price per share of $41.13), all of which was
paid in prior periods. During the six months ended August&amp;nbsp;1, 2009, we
repurchased 1.2 million shares of our common stock, for a total cash investment
of $42 million (average price per share of $34.62), of which $33 million was
paid in prior periods.&amp;nbsp; All shares reacquired during the three and six
months ended August&amp;nbsp;1, 2009 were delivered upon settlement of prepaid
forward contracts.&amp;nbsp; The prepaid forward contracts settled during the three
months ended August&amp;nbsp;1, 2009 had a total cash investment of $20 million and
an aggregate market value of $21&lt;B&gt; &lt;/B&gt;million at their respective settlement
dates.&amp;nbsp; The prepaid forward contracts settled during the six months ended
August&amp;nbsp;1, 2009 had a total cash investment of $42 million and an aggregate
market value of $44 million at their respective settlement dates. In
November&amp;nbsp;2008 we announced a temporary suspension to our open-market share
repurchase program.&amp;nbsp; See Note 10, Pension, Postretirement Health Care and
Other Benefits, for further details of our prepaid forward contracts.&lt;/FONT&gt;&lt;/P&gt;
&lt;P
style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify; punctuation-wrap: simple"&gt;&lt;FONT
style="FONT-SIZE: 10pt" face="Times New Roman" size=2&gt;&lt;/FONT&gt;&amp;nbsp;&lt;/P&gt;
&lt;P
style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify; punctuation-wrap: simple"&gt;&lt;FONT
style="FONT-SIZE: 10pt" face="Times New Roman" size=2&gt;During the three months
ended August&amp;nbsp;2, 2008, we repurchased 33.8 million shares of our common
stock, for a total cash investment of $1,668 million ($49.30 per share), of
which $233 million was paid in prior periods.&amp;nbsp; During the six months ended
August&amp;nbsp;2, 2008, we repurchased 64.3 million shares of our common stock for
a total cash investment of $3,241 million ($50.37 per share), of which $372
million was paid in prior periods. Of the repurchases during the three and six
months ended August&amp;nbsp;2, 2008, 20 million and 30 million shares,
respectively, were acquired through the exercise of call options.&lt;/FONT&gt;&lt;/P&gt;
&lt;P
style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify; punctuation-wrap: simple"&gt;&lt;FONT
style="FONT-SIZE: 10pt" face="Times New Roman" size=2&gt;&lt;/FONT&gt;&amp;nbsp;&lt;/P&gt;
&lt;P
style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify; punctuation-wrap: simple"&gt;&lt;FONT
style="FONT-SIZE: 10pt" face="Times New Roman" size=2&gt;Since the inception of our
current share repurchase program, which began in the fourth quarter of 2007, we
have repurchased &lt;/FONT&gt;&lt;FONT style="FONT-SIZE: 10pt" size=2&gt;94.9 million shares
of our common stock, for a total cash investment of $4,882 million (average
price per share of $51.44).&lt;/FONT&gt;&lt;/P&gt;&lt;/BODY&gt;&lt;/HTML&gt;
</NonNumbericText>
          <NonNumericTextHeader>&amp;nbsp;
9.&amp;nbsp; Share Repurchase
&amp;nbsp;
During the three months
ended August&amp;nbsp;1, 2009, we repurchased 0.5 million shares of our common stock, for a total</NonNumericTextHeader>
          <FootnoteIndexer />
          <hasSegments>false</hasSegments>
          <hasScenarios>false</hasScenarios>
        </Cell>
      </Cells>
      <ElementDefenition>No definition available.</ElementDefenition>
      <ElementReferences>No authoritative reference available.</ElementReferences>
      <IsTotalLabel>false</IsTotalLabel>
    </Row>
  </Rows>
  <Footnotes />
  <ComparabilityReport>false</ComparabilityReport>
  <NumberOfCols>1</NumberOfCols>
  <NumberOfRows>2</NumberOfRows>
  <HasScenarios>false</HasScenarios>
  <MonetaryRoundingLevel>UnKnown</MonetaryRoundingLevel>
  <SharesRoundingLevel>UnKnown</SharesRoundingLevel>
  <PerShareRoundingLevel>UnKnown</PerShareRoundingLevel>
  <HasPureData>false</HasPureData>
  <SharesShouldBeRounded>true</SharesShouldBeRounded>
</InstanceReport>
