This paper conducted a theoretical and aesthetic analysis on the artistic shape and spirit found in the traditional Korean dance based on oriental theory of arts by focusing on Han Youngsuk’s Taepyeongmu (Dance of Peace). Taepyeongmu by Han Youngsuk is a dance of the queen wishing for a great peace for the country, and this traditional Korean dance involves both shape and spirit by revealing the aesthetics underlying in the practitioner. The aesthetic characteristics of the taepyeongmu related to the hyungshin-ism are as follows. First, the Taepyeongmu practitioner controls and adjusts the moves with the practitioner’s emotional lines, and the spirit controls the shape to show the beauty of moderation for reaching the state of exquisiteness with shifting thoughts. Secondly, the Taepyeongmu shows the beauty of dynamics as the power and tempo of the dance are controlled by the practitioner’s will expressed by the shape as well as the power that expresses the shape for feeling and appreciating the rhythmic vitality. Third, the Taepyeongmu shows the beauty of harmony as the dance moves that compose each rhythm, shape, and spirit discord but accommodate each other at the same time for achieving central harmony. This study examined the rhythm, moves, and spatial structure of the Taepyeongmu based on yin and yang to categorize the types of the Taepyeongmu moves into property of yang, property of yin, and property of mixed yin and yang. According to the examination on the aesthetic characteristics underlying in Taepyeongmu based on theory of yin-yang and five elements, Taepyeongmu have an aesthetic relationship with the hyungshin-ism.