Abstract: Schelling initiated the philosophy of art in the strict sense, and put forward the systematic elucidation for the first time in this field. This paper examines the metaphysical basis of Schelling’s system of philosophy of art and its relationship with philosophy (especially Schelling’s own philosophy), pointing out that there are two structures in it, namely the eternal structure (the order of art categories) and the temporal structure (the opposition between ancient art and modern art). Through the analysis of the above points, this paper attempts to show that on the one hand, Schelling has insight into the eternal essence of art, on the other hand, he has grasped the tension of the times in art, thus showing the correct direction for the development of contemporary art.