Summary: We revise Krein's extension theory of semi-bounded Hermitian operators by reducing the problem to finding all positive and contractive extensions of the ``resolvent operator'' \((I+T)^{-1}\) of \(T\). Our treatment is somewhat simpler and more natural than Krein's original method which was based on the Krein transform \((I-T)(I+T)^{-1}\). Apart from being positive and symmetric, we do not impose any further constraints on the operator \(T\): neither its closedness nor the density of its domain is assumed. Moreover, our arguments remain valid in both real or complex Hilbert spaces.