“The Noble Leisure Project” gives a clear explanation of how Aristotle’s concept of leisure — far from being mere passivity — is an activity, in which one finds one’s greatest fulfillment. And not just any activity, but rather the activities that are most properly human.
In general, then, the hierarchy goes something like this:
relaxation -> (for the sake of) -> work -> (for the sake of) -> leisure
How, then, should we arrange our lives, so that we have time for all three?