Apparently, the short story the happy prince has been adjudged as a fairy tale. But this article argues that profound study of this short story tells us that it is not merely a fairy tale adorn with literary techniques like of allegory, irony and satire but beneath the surface we find that Oscar Wilde has written it under the influence of philosophy of socialism. The emending threats of emerging industrialization in his contemporary Victorian society resulting economic turmoil and increasing discrimination between haves and have- not urged him to propound his social realism in his work. Side by side his philanthropy and love for suffering humanity were motivating factor behind this exemplary short story. Because of him to alleviate the misery of suffering humanity must be foremost moral responsibility.