The present study is about Vajradh?tu Mandala painting (1845) in Daeheungsa Temple, which is an Esoteric Buddhist painting made in the late Joseon Dynasty, illustrating the contents of Vajra?ekhara-s?tra. This Buddhist painting was created in 1845 by Naewon and Ikchan, famous artist monks in Jeolla Province in the 19th century, with offerings made by Shin Gwan-ho, a naval commander, and others just after Daegwangmyeong-jeon had been completed in Daeheungsa Temple in 1841. At the center of the painting is Vairocana Buddha around whom are placed four Buddhas diagonally and thirty-two Bodhisattvas surrounding Vairocana. Distinguished in style from other ordinary Buddhist paintings, this painting is expressing the thirty-seven honorable ones in the Esoteric Mandala based on Vajra?ekhara-s?tra. In particular, the picture contains the name of each one based his image, so provides important information for research on images expressed in Buddhist paintings in the late Joseon Dynasty. There have been some writings about this Buddhist painting, but few of them mentioned iconography of this painting. The present study first reviewed the form and style of Vajra?ekhara Mandala paintings, and in Chapter Ⅲ examined the structure and characteristics of Vaira?ekhara-s?tra, which bases this painting, proving that this painting expresses Mandala of the thirty-seven honorable ones in Vajra?ekhara-s?tra. In Chapter Ⅳ, furthermore, the researcher discussed the trend of the Buddhist circle and Esoteric Buddhism in the late Joseon Dynasty, which is the background of the painting, as well as donators, petitioners and artist monks involved in the creation of the painting, and proved that this painting was created as an altar portrait behind the Buddhist image in Daegwangmyeong-jeon of Daeheungsa Temple built for Kim Jeong-hee, under the supervision of Zen Buddhist Monk Choeui and with the support Shin Gwan-ho who was in close friendship with Choeui.*br* There have been many studies on Esoteric Buddhist paintings centering on Tibet Buddhist paintings and Japanese Mandala but virtually none on Korean Esoteric Buddhist paintings. Therefore, this study is regarded as a first step of research on Korea Esoteric Buddhist paintings. It is considered to throw new light on Esoteric Buddhist paintings, which have been rarely dealt with in the history of Buddhist painting research in Korea, as well as to contribute to the clarification of the esoteric characteristic of Buddhism in the Joseon Dynasty.