It is generally called that the Donhwang Manuscript[敦煌本] "Sanghallon(傷寒論)" is all the series of documents relating to the "Sanghallon(傷寒論)", included in one of the testaments, which was, in 1900, originally found in the Janggyeong hole[藏經洞], Makgo cave[莫高庸], Donhwang(敦煌), Gamsuk province[甘肅省]. The consecutive numbers of the Manuscript are S 202 and P 3287, the former is called the "Sanghallon(傷寒論)" A-Manuscript[甲本] and the latter consists of the "Sanghallon(傷寒論)" B-Manuscript[乙本] and the "Sanghallon(傷寒論)" C-Manuscript[丙本]. The Donhwang Manuscript is a type of a hurt book, but not a complete form of a book. As the research conducted, it has been proven that the Donhwang Manuscript "Sanghallon(傷寒論)" has the academic values as mentioned below. First, it is highly valuable to inter-related study and revise the "Sanghallon(傷寒論)". Second, it is one of circumstantial evidences to have various kinds of versions of the "Sanghallon(傷寒論)". Third, its findings somehow wipes out arguments concerning with identifying authors of the "Sanghallon(傷寒論) Sanghanrye(傷寒例)" and the "Sanghallon(傷寒論) Byeonmaekbeop(辦脈法)". Fourth, it has turned out that the existing "Geumgweokhamgyeong" is not a forgery, but one of imparted versions of the "Sanghallon(傷寒論)" In conclusion, it could be acknowledged that the discovery of the Donhwang Manuscript "Sanghallon(傷寒論)" enables to arrange and revise the "Sanghallon(傷寒論)", and it has provided researchers with critical evidences about ascertaining many kinds of different versions of the "Sanghallon(傷寒論)". Moreover, we can also find the great contribution of this findings which could clarify various non-proven arguments within many experts and researchers.