Dreaming of an ax means you are in a destructive mood. An ax has sharp and violent properties, where you may explode at any moment and cause harm or ill effects to those close to you. Take this as a warning, and start observing your own behaviors to not let it get out of hand in your waking hours.
An ax in a dream signifies that you are feeling threatened by your subconscious. You feel as if someone is going to hurt you and this will be shown in your dreams.
Common dream scenarios where people have seen axes include being attacked by an ax-wielding person, being chased by an ax-wielding mad man, or seeing a dead body with an ax sticking out of the head.