Across the depth-psychology corpus, ‘Real’ functions not as a settled ontological category but as a contested and plurally-defined threshold concept whose boundaries shift decisively depending on the framework brought to bear. In Lacanian theory, the Real designates a third register alongside the Symbolic and Imaginary — a mystery exceeding representational capture, distinct from both external reality and inner-world fantasy. Jung’s operational criterion — ‘real is that which acts, bringing transformation’ — relocates reality from metaphysical substance to psychic efficacy, insisting that unconscious contents possess genuine ontological weight. Vedantic thought, represented by Shankara via Easwaran, stakes the sharpest counter-claim: only the unchanging is truly real, consigning the entire phenomenal world to evanescence. Aurobindo complicates this further, distinguishing cosmic consciousness as ‘real in itself, real in its effects,’ while interrogating whether Maya possesses even illusory reality. Barrett approaches the question empirically, distinguishing perceiver-independent categories from socially-constructed realities that are nonetheless causally operative. Janet’s hierarchy of degrees of reality, preserved in trauma theory, introduces a temporal and adaptive dimension. Running through all these positions is a shared productive tension: whether ‘real’ is a property of the world independent of mind, of psychic process, of social construction, or of the Absolute alone.