According to the Jain view, soul is that element which knows, thinks and feels. It is in fact the divine element in the living being. The Jain thinks that the phenomena of knowledge, feeling, thinking and willing are conditioned on something, and that that something must be as real as anything can be.
The true nature of soul is right knowledge, right faith and right conduct. The soul, so long as it is subject to transmigration, is undergoing evolution and involution.