The optical identification of the bright soft X-ray source H 1504 + 65, originally discovered by the HEAO I A-2 low energy detectors, is reported. The optical counterpart exhibits a steep, virtually featureless continuum from optical wavelengths through the ultraviolet. The spectrum is remarkably featureless except for a broad O VI adsorption feature at 3494.7 A and C IV absorption at 3934 A and emission at 4658 A. The soft X-ray data, which are not consistent with any published models for degenerate stars having predominantly H or He compositions, suggest that H 1504 + 65 is a metal-rich, near-degenerate object of very high temperature. Qualitative considerations indicate that it is definitely hotter than PG 1159 - 035 and similar objects. A temperature of roughly 160,000 K is suggested. 33 references.