Shahnameh-illustration through the lens of psychology can be examined from three perspectives: the author, the artwork itself, and the audience. This article focuses on the psychology of the artwork itself. The study investigates the individual unconscious reflected in the characters of contemporary Iranian Shahnameh illustrations, using the theory of Transactional Analysis (T.A.).The main problem of this research is to analyze the psychological form and content of the artworks presented at the 2008 International Shahnameh Illustration Exhibition, based on the model of Ego States in T.A. psychology. In this regard, eight selected artworks from the exhibition have been analyzed. The selection was purposive, emphasizing rich content and multilayered psychological and semantic depth.The aim of this article is to uncover the hidden semantic codes in contemporary Shahnameh illustration. Methodologically, this is a qualitative study conducted through descriptive content analysis, using library-based sources.The findings indicate that the composition of the characters in the paintings functions as visual codes, contributing to the psychological and semantic impact of the artworks. The meaningful alignment between the visual structure and the psychological states of the characters demonstrates the harmony between form and content in these Shahnameh illustrations, which is among the significant outcomes of this analysis.This study shows that the narrative artworks, in addition to following story structures, possess a visual language designed around dynamics of power and psychological interactions. The psychological atmosphere of these paintings reflects the internal psychological relations within their structures, manifested through the spatial positions of the characters.The research concludes that contemporary Shahnameh illustrations successfully represent the concepts of T.A. Ego States through compositional design