Organizational capabilities are multi-dimensional, complex constructs in management research. In respect to this notion; philosophical basis of research in this context has received little attention. In this regard, this article addresses the epistemological and ontological orientations of the theory of dynamic capabilities research as the current stream of research in organizational capabilities and discipline of strategic management. The origin of the concept and philosophical foundation of its theoretical roots are discussed from different aspects of social science philosophy and a conclusion illustrating philosophical axioms of capability research is then made to help researchers design further studies more effectively. Therefore the significance of this essay is its contribution to philosophical dimension of organizational research by illuminating epistemological and ontological foundation of organizational capabilities in strategic management as a growing scientific discipline.