The ontological status of the faculties of the soul in Avicenna’s thought is marked by ambiguity due to the dispersion of relevant discussions and the diversity of approaches across his various works. Adopting an analytical and systematic approach, the present article sets forth and examines, on the basis of Avicenna’s philosophical principles, different assumptions concerning the multiplicity of the faculties, their relation to the soul, their ontological status in terms of substance and accident, as well as the issue of their immateriality or materiality. The study concludes that the faculties of the soul, although immaterial with respect to their essence, are divided, by virtue of their acts, into psychic faculties and bodily faculties. This account, while remaining faithful to Avicenna’s philosophical principles, makes possible the reconciliation and resolution of certain apparent tensions found in his texts.