Hopes, Wishes and Dreams is the second and final solo album by Ray Thomas of The Moody Blues in conjunction with Nicky James and the orchestral arrangements of Terry James, released under The Moody Blues own Threshold Label as THS17 in June 1976. The album was also available in cassette and cartridge. It was reissued on Compact Disc in September 1989 and as part of a box set in 2010. The album produced one single, "One Night Stand" (B-side "Carousel"), which was released in July 1976 in the UK and August 1976 in the United States.
AllMusic stated in its review of the album, "This is also one of the best-sounding records to come from the Moody Blues' orbit, and is proof of the value of the time they put into building Threshold Studios."
All songs co-written by Ray Thomas and Nicky James, except where noted.