Paradox theory has emerged as a powerful lens for analysing organizational tensions, yet it remains ontologically tied to the primacy of contradiction. This study introduces Buddhist philosophy as a novel ontological foundation for paradox theory, challenging its prevailing assumptions. Drawing on the principles of dependent origination, emptiness, impermanence, karma, and non-duality, I propose three core takeaways. First, contradiction is not an inherent feature of paradox but a cognitive illusion produced by dualistic framing. Second, paradoxical elements are not merely interdependent but recursively co-constituted through circular causality. Third, persistence is not an inherent property of paradoxes but a dynamic and impermanent outcome shaped by shifting conditions and mental models. Building on this ontological foundation, I reinterpret the core features of paradox, offer a detailed illustrative application to coopetition, and discuss the theoretical and practical implications of viewing paradoxes as transient, recursively structured, and cognitively fluid configurations rather than persistent- contradictions. This perspective invites new avenues for processual, system-oriented, and mindfulness-informed research on organizational tensions.