This was a qualitative study utilizing descriptive analysis to explicate the theme,reality versus fantasy, in select stories about filipino women in written by filipino women authors as a mean toward a better understanding of women and their contribution to society. The data of this study were purely textual,and these came from the following seven stories: love in the cornhuks by Aida Rivera-Ford, acapulco at sunset by Cecilia Manguerra-Bernard, to hear the wind whistling by Ma. Agnes P. Levin, the servant girl by Estrella Alfon, the small key key by Paz Latorena, catch me a firefly by Freda Jayme and the gift by Luz LapeƱa-Barayuga. This study was conducted within the framework of three theories: femenism, formalism, and didacticism, where formalism was the main framework of this study. It was found that whetherich, middleclass or poor, the seven women protagonists all found themselves faced with challenging situations and circumstances which they tried to resolve or escape from. Six of the seven women protagonists were confronted with the question of "what could have been" vis-a-vis "what was in conjuction with the choice they made earlier regarding live and relationship. Two of the women protagonists were able to escape from their reality to realize their dream fantasy; Three of them happily reconciled to their reality;and to continue to live in their fantasy world. Three of the women protagonists prioritized their family; three placed more importance of their personal feelings; and one prioritized her job. The theme, as brough out through the plot and characterization,was appropriatly supported and enhanced through the story elements like setting,motif,imagery and symbolism. The study has given accent and credibility to women's contribution to the worl. It has covered more ground for women to realize that they are not alone in their struggles;that every problem has a solution; and that solution are often met in the facing of reality.