This study is intended to investigate the tradition of folk religion in Jeju people and the social meaning involved in that tradition. Generally speaking, folk religion in Jeju has become weakened. The important factors functioning as direct moments of that weakening can be cited as the movement of breaking down superstitions, April the Third Rot in 1948, propagation of institutional religions, inflow of new religions, change of the style of business operation, and the extension of general education. On the whole, these factors are in common with the case of the Main Land. We have some evidences supporting the fact that more than 300 shrines exist actually, shamanistic rituals are being practiced in accordance with sacrificial ceremony by individuals or village community, and one shaman or more exist in almost every village. Of course, phenomena of folk religion such as shrines, divinities, rituals, and shaman professionals are showing aspects of transition. The rituals of village community are on the decrease. Functions of every shrine and divinity are growing less acknowledged by believers. The hereditary competence of shamans is being thinned concurrently. On the other hand, it seems that the culture type as a general way of living is going with folk`s religious emotions. For example, individual rituals are keeping up in existence at shrines or homes, and the number of shrines is on the increase compared with the period of 1960`s. Probably since modern people are pursuing the value of utility, the kinds of rituals are on the decrease, the ``gut``(shaman ritual) is scaling down or breaking away from the traditional formalities, and the place or sturucture of shrines is being changed for the convenience` sake of believers. These phenomena seem to mean that folk religion is being modernized in accordance with social change. The fact that individual rituals are practiced on a considerable scale may well enable us to have a view that folk religion can affect individual or household belief. This fact is apparently giving rise to new phenomena. That is, quite a number of shamans are flowing into Jeju from the Main Land in order to fulfill individual needs of Jeju people. As a result of it, the tranditional formalities of exorcism in Jeju are losing some measure, and new style professional houses, named ``gut-dang``, where shamanistic rites are performed, are coming into being on the suburbs. In conclusion, life-consciousness of Jeju people is still rooted in folk religion. Therefore, we are fronted with a new social task of how to make right placement of the social status of folk religion or shamanism.