The Ashvamedha Yagya has been hailed as the monarch of rituals in the Indian tradition. Since Vedic times, the Ashvamedha holds a distinguished position among sacrificial rites. The horse symbolizes power. In the Shatapatha Brahmana, potent entities such as the nation, Indra, and the Sun are metaphorically portrayed as horses. The term 'Medha' is synonymous with 'Yagya'. The Nighantu texts provide 15 synonyms for Yagya, one of which is 'Medha'. In the comprehensive meaning of Ashvamedha, in Vedic rhetoric, 'Medha' signifies the awakening of intellect or wisdom. Delving into the philosophical significance of Ashvamedha in scriptural contexts is imperative to grasp this invaluable heritage. This research paper endeavors to understand Ashvamedha in the backdrop of Vedic literature, particularly by deciphering the meanings of the mantras presented in the Vedas. In Rigveda 5/27/4, Ashvamedha signifies the ultimate truth or reality; in Rigveda 5/27/5, it symbolizes the flow of creative power and the bliss represented by the essence of Soma; and in Rigveda 8/68/15 and 8/68/16, Ashvamedha is said to lead to the attainment of strength and the flow of life force. Ashvamedha leads to the enhancement of our intellect, meaning the awakening of wisdom, through which a human is established in the Supreme. The Vedas tell us that the purification of human consciousness through Ashvamedha - the awakening of wisdom - is the reward of Ashvamedha, and that the worship (Medha) of the divine power flow (Ashva) is the expansive, cosmic purpose of Ashvamedha.