Bullet Time is a special power used by Max Payne and Mona Sax. When activated, everything around Max/Mona slows down, but he/she will still be able to aim just as fast as in realtime. This gives an unique and enormous advantage over the enemies. However, Bullet Time is a limited resource. The player can see how much they have left in the hourglass in the bottom left corner of the screen. When Max takes out an enemy, he will replenish a little more Bullet Time. In Max Payne, the only way to regenerate Bullet Time is through killing more enemies. In Max Payne 2, Bullet Time also regenerates slowly when it is not in use. Additionally, if Max takes out several enemies at once, the Bullet Time hourglass will turn yellow, causing Max to move faster and at the same time appearing to make time even slower. This gives Max an even larger advantage over his enemies.
In Max Payne 2, when Max reloads in Bullet Time, he will use a stylish reloading trick by spinning around in a circle. This decreases reload time to near-zero, and allows him to dodge incoming fire. When the hourglass is yellow, the camera will follow Payne as he does it. The reloading trick is essential for weapons with a small ammo capacity such as the Sawed Off, or weapons that may otherwise take a long time to reload, such as the Pump-action.