In the article a comparative study is undertaken between Sigmund Feud's psycho-analysis and the Buddhist school of Vijñāna-vāda(mere consciousness), concentrating on the concepts of subconsciousness and ālaya-vijñāna of both sides respectively.Issuess such as consciousness, self, Id, mano-vijñāna, vāsanā, antarā-bhava, karma, kleśa citta and caitasa are also touched on, the major ones being Id in psycho-analysis and ālaya-vijñānaas as well as antarā-bhava in Vijñāna-vāda. The author holds that,roughly speaking, Id, ālaya-vijñāna and antarā-bhava all share the meaning of the soul. However, psycho-analysis does not stress the problem of transmigration, whereas Vijñān-vāda pays much attention to it. The latter is of the opinion that when one dies, the ālaya-vijñāna or the antarā-bhava will not vanish, but rather remains and will obtain a rebirth in another living body. This phenomenon will continue until finally enlightement and liberation are attained. Also, the following point is not to be neglected: psycho-analysis is a psychological science in empirical nature, which mainly deals with man's psychological problems, such as depression and anxiety, having nothing to do with enlightenment and liberation in religious sense. Vijñāna-vāda is, quite differently, a religious doctrine aiming at the solution of man's spiritual attachment, delusion and ignorance through the practice of āśraya- parāvṛtti(transformation), so that his goals of enlightenment and liberation can be realized.