This paper argues for an interpretation of classical SƒÅ·pÉkhya according to which its schema of twenty-five categories constitutes the result of an analysis of experience as opposed to a speculative cosmogony or imaginative account of how our psychological faculties come into existence. Problems with prevalent interpretations are highlighted, notably the difficulty of understanding how physical elements can ‘evolve’ from psychological ones and that of understanding the relevance of the categorial schema to SƒÅ·pÉkhya’s overall soteriological goal. An experience-oriented interpretation is then proposed, drawing analogies with aspects of Kantian and phenomenological philosophy. It is contended that the manifest categories be understood as constituents of possible experience (or experience-in-general) rather than as material entities, and the relations between them be understood in terms of synchronic conditionality rather than diachronic material causality. The proposed interpretation, it is argued, shows the SƒÅ·pÉkhya system to be more internally coherent and soteriologically relevant than do alternative interpretations.