The Ubermensch is
Friedrich Nietzsche's answer to the problem of Nihilism. Nietzsche begins his premise with the assumption that God does not exist, and if God does not exist, thus
objective morality and inherent value are not possible since there is no ultimate being that exists to create morality and value in the first place.
Nietzsche's Ubermensch will act as his own God, giving himself morality and value as he sees fit according to him alone. The Ubermensch is neither slave or master as he does not impose his will upon others. The Ubermensch is an independent individual who has the power to banish herd instincts from his mind and become a master of self discipline.
Above all, the Ubermensch is the next step in human evolution. Every human must deal with the question "What is the meaning of life"- some say God and Heaven, others say ultimate objective virtue, but the Ubermensch will give life value that is not based on superstition or mystical folly. The Ubermensch finds value in his life experience because it cannot be reasoned out through argument and logic. The Ubermensch would say that the meaning of life is that you die, so make it valuable.