One of the crucial concepts that was nurtured and coined as a mystical expression in the Ibn Arabi's school of thought is the Five Realms of Existence (Hazarat-e Khams). These realms are general levels of existence, referring to levels and ranks of Absolute Existence, wherein these levels are manifest. These levels are: 1. Lahoot (Realm of Divinity), 2. Jabaroot (Realm of Omnipotency), 3. Malakoot (Angelic Realm), 4.Nasoot (Realm of Humans), which is also called Molk, and 5. Perfect man. The present study comprehensively examines the essential dimensions of this concept and its characteristics in Islamic mysticism, following a comparative approach on the views of two of the most prominent mystics of Islam, namely Davood Gheisari and Imam Khomeini.