Dreaming is a ubiquitous phenomenon in human beings and has been discussed, researched, and hypothesized since a long time. The substrate, physiological mechanism, and function of dreaming have been explained by many scientists from the neurological, psychiatric, psychological, and philosophical perspective. With the development of scientific technology, many theories of dreaming have been established. In the present review, we first summarize the different theories of dreaming; furthermore, we introduce memory consolidation and reconsolidation. Lastly, we propose that memory might be associated with memory reconsolidation and list the explanations.