tayor ekataro hy arthaḥ
prakṛtiḥ sobhayātmikā
jñānaṁ tv anyatamo bhāvaḥ
puruṣaḥ so 'bhidhīyate
tayoḥ - of the two; ekataraḥ - one; hi - indeed; arthaḥ - entity; prakṛtiḥ - nature; sā - she; ubhaya-ātmikā - consisting of both the subtle causes and their manifest products; jñānam - (who possesses) consciousness; tu - and; anyatamaḥ - the other; bhāvaḥ - entity; puruṣaḥ - the living soul; saḥ - he; abhidhīyate - is called.
According to Śrīla Jīva Gosvāmī, prakṛti here refers to the subtle pradhāna, which later becomes manifest as mahat-tattva.