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The National Education Policy 2020 signifies a profound philosophical reorientation of Indian education by placing educational values, holistic development, and human excellence at the core of its vision. While existing studies largely focus on policy structure and implementation, limited attention has been paid to the metaphysical foundations underlying its value framework. This review article critically examines the educational values of NEP 2020 through a metaphysical lens, exploring its assumptions about human nature, knowledge, morality, and the ultimate purpose of education. Drawing upon Indian philosophical traditions, holistic education theories, and classical Western educational thought, the study analyses how NEP 2020 conceptualizes education as an integrative, transformative, and value-laden process. The aims of the study is to examine the educational values embedded in NEP 2020 from a metaphysical perspective, to analyse the philosophical assumptions about human nature, knowledge, and purpose underlying NEP 2020, to interpret NEP 2020 in the light of Indian philosophical traditions and Western educational thought and to assess how NEP 2020 conceptualizes value education and human excellence as intrinsic aims of education. The review reveals that NEP 2020 aligns education with ontological, ethical, and spiritual dimensions of human existence, positioning value education as intrinsic to learning rather than instrumental. The paper argues that NEP 2020 represents not merely a policy reform but a philosophically grounded vision of education aimed at self-realization, moral consciousness, and holistic human flourishing.