Imagination is a gift to humans, and a creative faculty of the mind. Although early studies in the fields of philosophy and psychology appreciated the value of imagination, little work has been done pertaining to indicators of imagination. This study synthesized early works on imagination carried out between 1900 and 2012 to clarify its meaning and identify potential indicators. Then, two groups of samples in the field of multimedia design were collected and validated through factor analysis. There were two dimensions and ten indicators of imagination that emerged during this inquiry. The first dimension is "creative imagination," which includes the indicators of novelty, productivity, sensibility, intuition, focusing, and exploration. The second dimension is "reproductive imagination," which includes the indicators of effectiveness, dialectics, crystallization, and transformation. The two dimensions reveal not only distinct differences that characterize their uniqueness, but also certain shared features. A theoretical construct of imagination index is summarized. Critical reflections on virtual experience design and discussions for future studies are also proposed.