All Is Dream is the fifth studio album by American rock band Mercury Rev.

The album's front cover features half of the 1991 painting Breakthrough Dreaming by artist and mystic Jennifer Hathaway.

All Is Dream received generally positive reviews from music critics.

[12] All songs written by Jonathan Donahue, Sean "Grasshopper" Mackowiak and Jeff Mercel.

The album was also released as a limited edition featuring a CD-ROM with the following tracks: In his album Falling Off the Bone, comedian Todd Barry recounts the fact that, while in Manhattan on September 11, a friend of his in the crowd recognized Barry and told him, "The new Mercury Rev album is out."