The purpose of this thesis is to study the poetical theory and origin of Indian Alañkãrasãstra, the characteristics of the ‘Alnkāra’ (poetical ornament) and the ‘rasa’ (literary flavor) of Sanskrit poetry in order to find criteria for the analysis of “beauty” in the thirteen cantos in Mahāchāt Kharnluang to see if the beauty of this poetic work corresponds with the beauty found in Indian Alankārasāstra or not. The thesis is divided into six chapters, the first of which deals with history of Mahāchāt Kharnluang composed in the reign of King Boromatrailokanath. The second is the study of the poetical theory in the various versions of Alankāraśāstra, the origin of Alankāraśāstra, the language, the poetical forms, the poetical ornament which is constituted of sound ornament called “śabdālfinkāra” and meaning ornaoent called “arthālnkāra”, and poetical flavor. The third and fourth chapters are the analyses of “śabdālankāra” and “arthālankāra” respectively. Chapter five analyzes the literary flavor in Mahāchāt. Kharnluang and chapter six presents the conclusion of the thesis and gives suggestions for further studies. The finding is that Mahāchāt Kharnluang’s aesthetic beauty, enriched by its sound and meaning adornments and also by literary flavor, mostly coincides with the criteria in Alankāraśāstra. It is also found that Mahāchāt Kharnluang contains beauty composed of unique characteristics of Thai Literature. This twofold (i.e. Indian and Thai) beauty verifies the poet’s ability and intention and also is a major factor that makes Mahāchāt Kharnluang one of the great masterpieces in Thai Literature.