When it comes to a question as notoriously unclear as “What is the meaning of life?”, clarifying the question and its conceptual setting is a necessary step before attempting to answer the question. The analysis of the concept of “the meaning of life” is a twofold task; “the meaning” and “life” both need to be examined. In this paper, I primarily focus on “the meaning.” I argue that, although there is much disagreement and confusion in the literature about the meaning of “the meaning” as it is applied to life, there is one most plausible interpretation of this notion. In the end, even though I do not answer the question of the meaning of life, I propose an account of what a correct answer to the question is supposed to look like, based on my original function analysis of “the meaning.” Keywords: the meaning of life, meaningfulness, meaning in life.