Despite its modern character and approach, Venerable Master Hsing Yun’s Humanistic Buddhism is deeply rooted in traditional Buddhism. With profound wisdom (prajñā) and skillful means (upāya-kauśalya) as its cornerstones, it is vital to begin with understanding Mahayana Buddhism in order to deepen the illustration of Humanistic Buddhism as a theory. Referring to Professor Cheng Gongrang’s argument as a premise, this paper proposes a new theory of prajñā ─ a contemporary doctrinal system built on the traditional doctrine of prajñā. Furthermore, it is to understand Venerable Master Hsing Yun’s Humanistic Buddhism from this perspective. This paper presents a preliminary investigation of Venerable Master’s thoughts on prajñā wisdom in relation to Humanistic Buddhism.