The judgment “Man is life”, as the logical base point of The book of Changes, is the fundamental philosophical proposition in terms of its concise significance in the history of Chinese philosophy. Therefore, the profound analysis of this proposition will undoubtedly give rise to the improvement of our understanding about the philosophy of The Book of Changes. Based on the history of Chinese philosophy, especially The Book of Changes, this paper will discuss the proposition by analyzing the related theories of ontology, cosmology, the theory of human life, and ethnics in an effort to prescribe the logical possibilities as well as the necessities of the philosophical system which is based on the above-mentioned proposition “Man is Life” in the course of its development.