This study utilized both quantitative and qualitative statistical methods to examine dreams in 22 University students and the effects of meditation on waking day depression levels (BDI), trait anxiety levels (BAI-T) and dream imagery. Results are consistent with previous research in that mood levels changed over the course of the meditation period, specifically, moods benefit from meditation. Specific dream imagery correlated with both depression and anxiety scores, such as scene changes and animals in dreams. There were multiple significant correlations found between dream con-tent and discoveries before and after meditation. This research illustrates that meditation has positive effects on mood and discoveries can be made from dream imagery relevant to waking day. Implications for future research are discussed as well as applications of dream work and meditation in applied practice.