The paper focuses on the idea that a literary work of art and philosophy complement each other. In the Holt’s views, philosophy of literature addresses fundamental questions about the nature of literature as an art. In addition, philosophy explores, nature, historical significance, norms of interpretation, and aesthetical values of literary art. The paper also focuses on the question do people take interest in philosophy, with special reference to ‘analytic philosophy’. It has been observed that people do read works of philosophers, such as Plato, Aristotle, Nietzsche, Hume etc, but do not find much pleasure in analytical insights provided by the philosophy. Then this paper reflects on the definition of literature by Waugh. According to E Waugh, “literature is the right use of language irrespective of the subject or reason of utterance”. The paper ends with the M Ellis’ remark that ‘the two sides have varied their terminology throughout the ages, but the opposition between them has remained essentially unchanged. Therefore, the discussion on ‘literature’ and ‘knowledge’ is never going to end.