What is the world-soul referred to in Schelling’s 1797 treatise? Is he committed to the untenable view that the cosmos is alive? First, I argue that Schelling deploys a strategy pioneered by Maimon: the retrieval, within a post-critical framework, of Platonic and kabbalistic traditions consolidated in the Renaissance. In his essay on the world-soul as hypothesis, however, Maimon’s argument, though motivated by Kant’s interest in Blumenbach, remains pre-critical. Then I offer an interpretation of Schelling’s world-soul as an organizing principle intended to unify organic and non-organic matter, a principle that organizes forces by means of feedback and equilibration, and that is intended to provide the non-teleological basis for evolution into non-living bodies, living bodies, and ultimately conscious agents. According to Schelling’s understanding of Kant’s critical turn, the world-soul is a physicalized version of a Platonic-kabbalistic concept that plays a role within a post-critical, dynamic and evolutionary account of nature.