In this study, I examine mudrās mainly in the Mouli mantuoluo zhou jing 牟梨曼陀羅呪経, which has been called the earliest text indicating mudrās. I list the mudrās, and analyze their roles and meanings. As a result, I found that the mudrās are closely related to maṇḍala, the main story (nidāna), and the esoteric ritual of abhiṣeka.