就當代對老子之道的詮釋而言，能夠自成一家之言者，為數頗為可觀。不過雖然各家的詮釋各有其特色，但是大部分的學者都肯定老子之道是具有實體性與客觀性的。相較之下，牟宗三所提出的主觀境界說，便顯得十分具有獨特性。然而依牟先生的意思，他的詮釋其實有一部分是根據王弼的注解而來的。因此，如果要探究牟先生的說法是否合理，首先就必須對他藉由王弼以詮釋老子之道的部分加以分析。其次，牟先生之所以如此詮釋老子之道，主要還依據了他所預設的三項判準，此即：主觀的實踐進路、消極意義的不生之生、以作用層代替實有層。本文藉由以上兩個部分的論述，並參考學者曾經提出的相關意見，希望對牟先生所作的詮釋能夠有一個較為全面而客觀的檢討。

The contemporary interpretations of Laozi's Tao are considerable. But despite the various interpretations have their own characteristics, most scholars affirm that Laozi's Tao have substantial and objectivity. Relatively, "Subjective realm interpretation" of Mou Tsung-san, it is very unique. But depend on Mr. Mou's meaning, his interpretation actually partially comes on the basis of Wang Bi's annotation. So, if we want to know whether Mr. Mou's points are reasonable, we must analyzes his interpretation of Laozi's Tao through Wang bi first. Secondly, Mr. Mou interprets Laozi's Tao, according to three items of criterion which he establishes mainly: subjective practical approach, born without birth of passive meaning, replace being level with function level. This paper is with the argumentation of the above two parts, and made reference to the scholars who have relevant views; hopefully, we can have a more comprehensive and objective review about Mou's interpretation.