Abstract: The term Philosophy (falsafah) does not occur either in the Qur’an or the Sunnah. However, the word al-hikmah which appears in several places in the Qur’an and the Sunnah has been identified with Philosophy by most schools of thought in Islam. Most of the great Muslim philosophers including such men as Al-Kindi (d.874), Al-Razi (d.825), Al-Farabi (d.850), Miskawayh (d.1030), Ibn Sina (d.1037) and Ibn Rushd (d.1198) have also identified Philosophy with al-hikmah and thereby the philosophers with al-hukama’. Al-hikmah appears in various Qur’anic verses, of which the most often cited is, He granteth wisdom (hikmah) unto whom He will and he unto whom wisdom is granted, he truly hath received abundant good. But, none will receive admonition but men of understanding (al-Qur’an, 2:269). The term hikmah also appears in the Hadith literature in such saying as the acquisition of hikmah is incumbent upon thee, verily the good resides in hikmah. This study thus, seeks to make a critical survey of the meaning of Philosophy or al-hikmah as understood by the Muslims, especially the Muslim philosophers.