In the last decade the evolution on educational technologies forced an extraordinary interest in new methods for delivering learning content to learners. The role of technology has often been overestimated causing a myopic consideration of the critical issues in e-learning. This paper provides an initial discussion of the role of ontologies in the context of e-learning. The overall objective is to emphasize the importance of analysing a phenomenon and reveal the descriptive conceptualizations that affect the employment of technology. Ontology as a term has an intrinsic holistic character and from this point of view is quite interesting to investigate ways of understanding the phenomenon of e-learning from several perspectives. An initial clarification of term ontology is presented and the main issues are used for the description of the developmental process of the e-learning ontology entitled Mutli- Dimensional Dynamic Learning (MDL). The final conclusion balances conceptualizations and technological formulations by drilling down abstract concepts to data declarations and thus machine-readable semantics.