In recent years the Milindapa~nha (The Questions of King Milinda) has been very popular in Europe and Asia. The warm reception it received from the academic circles is remarkable. This could be judged by its translations in English, French, German, Russian, Chinese, Japanese, Hindi, Sinhalese, Sanskrit, Prakrit and so forth. This essay is an attempt to assess the highlights in the text. It may be noted in passing, that the present author is privileged to be the translator of its Chinese version published in Beijing in 1997. For a fair assessment, we have listed four major topics in regard to the historical, doctrinal, philosophical and devotional aspects of Buddhism. They are: (1) King Milinda in Indian history (2) Who is the real Naagasena? (3) Milinda and the six teachers and (4) The trend and transformations of Buddhist doctrines. As the original Pali version has been in circulation for over a thousand years, it appears inevitable that interpolations were made from time to time by various individuals. From the historical perspective, the story of King Milinda's renouncement of the world to become a mendicant, and the episode of his visit to the six teachers are really incredible and astonishing. As Milinda passed away in a military camp, and as he and the six teachers lived in different centuries, these stories were fabricated for a specific purpose, namely, for enhancing the prestige of Naagasena, and the glory of Buddhism. The section concerning the process of rebirth is of interest to those who wish to trace the development of Buddhism. Earlier, the theory on transmigration was based on "Mind, matter, and deed" (naama, ruupa and kamma), but later, a new element known as "gandhabba" was in vogue. It is an entity somewhat similar to an "aatman" (soul). As Buddhism does not believe in such a speculative hypothesis, it should be considered an infiltration from a foreign source. In a similar way, other areas within the scope of this article are also critically examined and evaluated.