The word 'Mahaprajna', a Sanskrit term means 'Great Wisdom'. In Buddhist learning, the accumulation of merits go hand in hand as understanding and practice are of equal importance. However, as wisdom has the ability to guide practices, there is an emphasis on the gaining of wisdom where cultivation is concerned. As such, 'Mahaprajna' was adopted as the name for the society.

The Mahaprajna Buddhist Society was established in December 1985 under a set of unique historical and religious conditions. A group of Buddhists, under the guidance of Master Hou Zhong, established TMBS. The aspiration was to initiate Buddhist missonary work in order to overcome the prevailing conditions unconducive to the growth of Buddhism.In setting up the society, we aim to achieve the nurturing of true Buddhists through Buddhist education. This would help to muster the strength needed in propagating Buddhism for the benefit of sentient beings. In time to come, the spirit of Buddhism will be well spread.In brief, TMBS can be described as a Buddhist community which aspires to walk the bodhisattva path of benefitting all living beings through Buddhist education, providing for the welfare of the Sangha, as well as upgrading the standard of lay Buddhists.

慧严佛学会成立于一九八五年十二月，其创立是基于确信智慧是佛法的一大要素，是指导一切善行及慈悲的修持，所以本会取名“慧严”，是取自智慧庄严的意思。

慧严佛学会是在特殊的历史和宗教环境中成立的。 当时，有许多所谓的庙宇及其众多的信徒，然而佛教与道教之间的区别却鲜为人知。大部分的佛教寺院也很少自动自发地组织活动来吸收新信徒。此外，造成佛教停滞不前的部分原因也包括缺乏有才能及有领导素质的人才。所以一群佛教徒在^上厚^下宗法师的领导下，毅然成立了慧严佛学会，希望透过佛教的布教工作来排除普遍不利佛教成长的种种因素。

简单地说，慧严佛学会是一个希望以佛学教育利益一切众生，护持僧宝，以及提高佛教徒的素质来实践菩萨行的佛教团体。