The historical value of the Ping-ling-ssŭ Cave Temples in Kansu Province, China, was first recognized by a survey in 1952 and a detailed report was published in the following year. A second survey was carried out in 1963 and an outline of the result was reported in No. 10, 1963, of Wen Wu by the archaeological team, adding valuable new materials for Chinese art history. The inscription taken up in the present paper was recovered in Cave No. 169 by the second survey and is the oldest inscription known in Chinese cave temples. According to the photograph in Wen Wu, the inscription is located on the north wall inside the eastern entrance of the cave. This rather long inscription is written with ink (sumi) in a white-painted square space on the rock. The photograph is not clear enough to enable one to read the entire text, but the last part is fairly well shown. The last part seems to be a statement of thanks by the donor, a king or a nobleman of Western Ch'in 西秦, for the completion of the Buddhist statue and the wall painting in the cave. The date reads “Completed in the twenty-fourth day in the third month of the fifth year of Chien-hung Era, the year of shuan-hsiao 建弘五年歳在玄枵三月廿四日造”. Shuan-hsiao 玄枵 means rat 子 of the twelve zodiacal signs used in the Chinese calendar and the fifth year of Chien-hung Era (A.D. 424) correctly corresponds to the year of shuan-hsiao. Therefore the transcription, “the first year of Chien-hung Era 健弘元年” in Wen Wu is not correct. It is hoped that a photograph which will enable us to read the entire inscription will be made availabe by the Chinese expedition in the future.