This research aims to examine epistemologically the source of tafsir bi al-ra'yi as an approach to interpreting the Qur'an that places reason and scientific ijtihad as the main instruments in understanding the text of revelation. This study seeks to explain the definition, developmental history, classification, and relevance of this source in the modern context, as well as examine the epistemological limits of rationality so as not to deviate from the principles of sharia. The research was conducted using library research methods and descriptive-qualitative approaches, using classical and modern literature sources. The analysis is carried out through the stages of reduction, interpretation, and conclusion drawing to find patterns of legitimacy of rationality in the tradition of Islamic interpretation. The results of the study show that tafsir bi al-ra'yi has a strong scientific foundation as long as it is carried out with strict scientific requirements, such as mastery of the Arabic language, understanding asbāb al-nuzūl, and attachment to the principles of uṣūl al-tafsīr. Historically, this source has developed since the time of the Companions to experience revitalization in the modern era in response to scientific advances, social dynamics, and the need to contextualize Islamic teachings. The conclusion of the study confirms that tafsir bi al-ra'yi is not a form of unlimited rational freedom, but rather an expression of religious rationality that bridges the text of revelation with human reality, so that the Qur'an remains relevant as a source of value and guidance across space and time.