The Chinese translation of Aristotle’s "metaphysica"into "xing er shang xue,"a rough equivalent to the philosophy of transcendence,implies an easily neglected yet worrying misjudgment by modern Chinese thinkers of the doorway into the domain of spiritual transcendence, as well as a distorted interpretation of the mainstream of both Chinese and Western philosophy. This paper believes that in this disorientated age there still exists a possibility of reconstructing a philosophy of transcendence,the proper form of which can be sought for through a comparative study of the leading notions of spiritual transcendence in Chinese and Western philosophy. "Dao," the characteristic and supreme concept of traditional Chinese philosophy of transcendence,can still function as the ultimate provider of humanistic values in the present time and in the future. To enable "Dao"to do so,it will be essential not only to clear up various modern misconceptions of it in an effort to inherit the great enlightenment produced ancient Chinese philosophers,but also to enrich its philosophical connotation by making the abundant modern humanistic values converge in agreement on this one single philosophical concept. By doing so,one may hopefully start the great undertaking of a new philosophy of transcendence with a worldwide scope but also a national character.