The art of fiction which Conrad boldly innovated much ahead of his time is an important factor that contributed to the establishment of his eminent place among the masters of modern fiction. When one is preoccupied with studying this technique side of his work, however, one is liable to forget that there is an equally important point which deserves scrupulous critical attention: the moral aspect of his work. This paper is based on the assumption that Conrad was an author who had a profound sense of morality and a deep insight into the condition of man, and that his moral vision should be examined in view of the universal values which have had fundamental relevance to human life rather than in terms of any clearly defined ideology. Such a critical stance is valuable not only because the philosophical quality of his work, if there be any, is not firmly based on any systematic ideological foundation, but also because whatever significant ideas were held by him manifested themselves as a way of looking at life more than any thing else. This paper treats, first of all, the nature of Conrad`s tragic view of life, and then proceeds to categorize the ideal values cherished by him, before it finally touches upon the manner in which his moral vision incorporates the innovative art of fiction as part of the vision itself.