This study examines how the application of Ta’wil in the Imami and Ismaili traditions reflects their fundamental divergences regarding the authority of religious knowledge, the relationship between reason (‘aql) and revelation (naql), and the status of the exoteric (zāhir) and esoteric (bāṭin). Using a descriptive-analytical and comparative method, it analyzes patterns of Qur’anic Ta’wil in two major fifth-century AH works: Al-Tibyān by Shaykh al-Tusi and Wajh-i Dīn by Nasir Khusraw. The research identifies the theoretical underpinnings of Ta’wil in each text, evaluates the authors’ methodological consistency, and considers the impact of socio-historical contexts on their hermeneutical approaches. Findings show that in Al-Tibyān, Ta’wil operates within an Imami rationalist framework grounded in linguistic principles and transmitted tradition, while preserving the boundaries of Shari‘a—a method Shaykh al-Tusi consistently follows. In contrast, Nasir Khusraw in Wajh-i Dīn pursues Ta’wil through a symbolic, hierarchical model shaped by Ismaili philosophy, centered on the Imam’s teaching authority. Here, naql shifts from hadith-based tradition to an Imam-centered pedagogical tradition, with emphasis on numerical symbolism and esoteric codes. The comparison reveals that the divergence between the two approaches stems less from accepting or rejecting reason and revelation than from differing conceptions of the authority governing Ta’wil and its relation to the exoteric dimension of Shari‘a in Imami and Ismaili thought.