In this paper, I investigated the nature of the esteem accorded to the Vajrābhiṣekamaṇḍala (“Diamond Initiation Mandala”; Jp. Kongō kanjō mandara) in the Vajrapāṇyabhiṣekatantra (VPA) and to the World-Honored One Great Wheel (seson daitenrin) depicted in the center of the composition by comparing it with the Dainichi-kyō (Skt. Mahāvairocana Sūtra) and examining the contents of the scriptures. The face bears a striking similarity to that of the World-Honored One Vairocana in the Dainichi-kyō “Tenjirin mandara gyōhon,” and following this point of view, the World-Honored One Great Wheel could be said to be Vairocana. When we focus on the positioning of World-Honored One Great Wheel in the context of the VPA, he can be read as a being accorded the highest esteem in all respects, and in view of this positioning as well, it seems that we can regard the World-Honored One Great Wheel as Vairocana. Finally, I examined the nature of the Wheel King (tenrinsha). In the VPA, the secret doctrine and vajra scepter are transmitted from master to disciple as from Shaka to Samantabhadra (Jp. Fugen) to Mañjuśrī (Jp. Monju). This can then be interchanged with Vairocana to Vajrapani to Myōsenkongō. In the Vajrābhiṣekamaṇḍala, Samantabhadra and Mañjuśrī are positioned above and below the World-Honored One Great Wheel, and in the composition, Vajrapani and Myōsenkongō are arranged on his right and left. Thus, when we compare the transmission of doctrine and vajra scepter as well as the arrangement of the mandala, we could say that the World-Honored One Great Wheel is Vairocana.