This article seeks to reexamine the definitions of Wu (物), Li (理) and Tao (道) on the chapter of interpreting Laozi (Jielao, 解老) in Hanfeizi (《韓非子》) and to disclose the interrelationship among the three notions. This study attempts to demonstrate that Hanfeizi limited the field of discussions of Wu to the physical matters, although he did not deny the possibilities of matters without concrete forms. Li is, moreover, defined as the property of concrete matter or the principle of political society. Also, Tao is the abstract principle of Li according to the context of Hanfeize Jielao. Therefore, this article concludes the relationships of Wu, Li and Tao in Hanfeize Jielao as follows: if there is nothing existing, there is no property. Tao can not exist without property. So Wu is the foundation of Li and Tao.