《莊子》中的「物」字意涵，與「物化」、「齊物」等《莊子》中重要論題，有著密切的關係，卻甚少被聚焦討論，釐清其所含括的意涵。本研究明確指出，在《莊子》「道/物」區分的架構下，《莊子》中的「物」字意涵含括「心」、「性」、「理」、「氣」等不屬於常用意涵中的部份，甚至「人」亦包含在其中。從「人」為「物之一」的角度來看，人在來源方面與萬物同出於「道」，人的價值與萬物等齊，而夢裏與夢外及生與死皆僅為「物」之變化。此外，透過探究《莊子》「物」字確義所得的區分架構，吾人可以理解到從「形而上」到「形而下」關於存有的三層最基本區分。其中「形而上」部份的兩層區分，對於釐清形而上學的相關討論，有所助益。

The category of wu 物 in Zhuangzi 莊子, with close relations to the important thesis wuhua 物化 and qiwu 齊物 and so on, is less focused to clarify its content. This research will point out that the category of wu in Zhuangzi contains xin 心, xing 性, li 理, qi 氣 and so on, which don't belong to usual content of wu, and even the human being is included. From the viewpoint that the human being is one kind of wu, the human being is equal to all things in the world in value and dao 道 is their same origin. And the transformations between " in dream" and "outside dream", death and life, are simply regarded as the changes of wu. In addition, using the division fram obtained from the investigation of the category of wu, the basic two levels of metaphysical part in metaphysics are differentiated. It will be helpful to comprehend the discussions of metaphysics more clearly.