<p>In this paper, we examine the claim that our intense emotional responses to dreams support the view that dreams are not imaginations but are rather hallucinations that we believe to be real while they are occurring. Dream emotions have been used as evidence that dreams are not imaginations since imaginations should not evoke these kinds of responses. However, we argue that while, in general, a realistic scenario will likely evoke a more intense emotional response than the same imagined scenario, intense emotions can be evoked by imagination in certain circumstances. Thus, dream emotions do not prima facie substantiate the intuition that dreams are hallucinations. Nonetheless, dream emotions have features that are not easily accounted for by either the imagination or the hallucination models of dreaming such as flagrantly unfitting emotions. Our analysis leads us to conclude that dream emotions are highly varied, encompassing certain resemblances to imagination emotions without being solely confined to them.</p>