The synthesis between Vedanta and Buddhist philosophy has been attempted in this study on the ground that the former is the philosophy of “being”, whereas the latter happens to be the philosophy of becoming. The being and becoming, both are important for proper understanding of the Absolute Reality and its manifestation. In synthesizing, it has concentrated on consciousness because of two reasons: (i) in consciousness, both being and becoming are involved and (ii) pure consciousness happens to be the essence of human nature. In Buddhist philosophy the concepts like citta-nirvana, bhavanga-citta and alaya-vijnana having a bearing on pure consciousness, which happens to be the Upanisadic atman and the Vedantic Brahman. Since these concepts represent the essence of human beings, the similarities among the Upanisads, Vedanta and Buddhism have been established. However, the differences between Vedanta and Buddhist philosophy (Yogacara Vijnanavada) on several issues like momentariness, changing reality will continue because these are merely modes of manifestations or appearances. It has also been shown that the concepts like One and Many, Time and Space of Buddhist philosophy and Vedanta have scientific support. Time and Space have no independent existence in Buddhist philosophy and Vedānta. In fact, both being the manifestations of consciousness, become the objects of consciousness. It means that Buddhist philosophy and Vedanta have treated Time and Space in relative framework. So is the case with science.