A scalar field theory in four space–time dimensions is proposed, which embodies a scalar condensate, but is free of the conceptual problems of standard ϕ4-theory. We propose an N-component, O(N)-symmetric scalar field theory, which is originally defined on the lattice. The scalar lattice model is analytically solved in the large-N limit. The continuum limit is approached via an asymptotically free scaling. The renormalized theory evades triviality, and furthermore gives rise to a dynamically formed mass of the scalar particle. The model might serve as an alternative to the Higgs sector of the standard model, where the quantum level of the standard ϕ4-theory contradicts phenomenology due to triviality.