Julius Evola in The Doctrine of Awakening, pp. 9-10, states unequivocally,

. . . Buddhism — referring always to original [Pali] Buddhism — is not a religion. This does not mean that it denies supernatural and metaphysical reality, but only that it has nothing to do with the way of regarding our relationship with this reality that we know more or less as 'religion.'

What he means is that there is a strong tendency in the West to identify religion with faith-based religion, and that Buddhism is not a religion in this sense, based as it is on knowledge and direct insight, not faith or revelation.

. . . Dahlke sums up the matter, saying that one characteristic of Western superficiality is the tendency always to identify religion as a whole with religion based on faith.14 [P. Dahlke, Buddhismus als Religion und Moral (Munich and Neubiberg, 1923, p. 11) Beyond those who "believe" are those who "know," and to these the purely "mytho­logical" character of many simply religious, devotional, and even scholastically theo­logical concepts is quite clear. It is largely a question of different degrees of knowl­edge. Religion, from religo, is, as the word itself indicates, a reconnecting and, more specifically, a reconnecting of a creature to a Creator with the eventual introduction of a mediator or of an expiator. On the basis of this central idea can be built up a whole system of faith, devotion, and even mysticism that, admittedly, is capable of carrying an individual to a certain level of spiritual realization. However, it does so to a large extent passively since it is based essentially on sentiment, emotion, and suggestion. In such a system no amount of scholastic explaining will ever completely resolve the irrational and sub-intellectual element. (p. 9)

Summing up, we can say that pure Buddhism is a 'religion' without faith, revelation, sentiment, emotion, or devotion.  Alternatively, if those features are deemed essential to religion, then Buddhism is not a religion. 

We can easily understand that in some cases such "religious" forms are neces­sary; and even the East, in later periods, has known something of the kind, for instance, the way of devotion-bhakti-marga (from bhaj, "to adore")-of Ramānuja and certain forms of the Sakti cult: but we must also realize that there may be some who have no need of them and who, by race and by calling, desire a way free from "religious" mythologies, a way based on clear knowledge, realization, and awaken­ing. An ascetic, whose energies are employed in this direction, achieves the highest form of ascesis; and Buddhism gives us an example of an ascesis that is outstanding of its kind – -in saying "of its kind" we wish to point out that Buddhism represents a great historical tradition with texts and teachings available to all; it is not an esoteric school with its knowledge reserved for a restricted number of initiates.

For some, the spiritual quest is impossible without devotion and such accessories as pictorial representations such as icons along with other sensory aids including bodily postures (kneeling, etc.), gestures (sign of the cross, etc.) incense, candles, medals, water, ashes, oil, bread, and wine all appropriately sanctified within the context of simple or elaborate rites. Thus ordinary water, appropriately blessed by a priest, becomes 'holy water' and ordinary bread and wine, at the moment of consecration in the Catholic mass, undergoes transubstantiation into the body and blood of Christ.  For Buddhism, this is all in the end "mythological," including the subtle logic-chopping and dialectical maneuvers involved in the scholastic theology of transubstantiation.  Discursive prayer and other devotional practices may be necessary for some to make spiritual progress, but they can become a distraction and a form of superstition.  The Ultimate Realization lies beyond all of these 'bhaktic' or devotional practices and of course it lies beyond all theological dialectics.  And even if there is realm beyond this gross realm, a subtler realm which we will enter at death, that would only be a higher level of samsara and not nirvana, the ultimate goal of Realization. 

In this sense we can, and indeed we must, state that Buddhism — referring always to original Buddhism-is not a religion. This does not mean that it denies su­pernatural and metaphysical reality, but only that it has nothing to do with the way of regarding one's relationship with this reality that we know more or less as "religion." The validity of these statements would in no way be altered were one to set out in greater detail to defend the excellence of the theistic point of view against Bud­dhism, by charging the Doctrine of Awakening with more or less declared atheism. This brings us to the second point for discussion, but which we need only touch upon here as it is dealt with at length later in this work.

The atheism of the Buddhist is not the crass atheism of the materialistic worldling devoid of spiritual depth and spiritual aspiration. The atheism of the Buddhist is the denial that  any God, even the ontologically simple God of Thomas Aquinas could be the Absolute, the Unconditioned, the Ultimate.  This, I take it, is logically compatible with the belief that there are gods and even a unique God in higher samsaric realms this side of the Absolute.

We have admitted that a "religiously" conceived system can carry an individual to a certain level of spiritual realization. The fact that this system is based on a theistic concept determines this level. The theistic concept, however, is by no means either unique or even the highest "religious" relationship such as the Hindu bhakti or the predominant faiths in the Western or Arab world. Whatever one may think of it, the theistic concept represents an incomplete view of the world, since it lacks the extreme hierarchic apex. From a metaphysical and (in the higher sense) traditional point of view, the notion on which theism is based of representing "being" in a per­sonal form even when theologically sublimated, can never claim to be the ultimate ideal. The concept and the realization of the extreme apex or, in other words, of that which is beyond both such a "being " and its opposite, "nonbeing," was and is natural to the Aryan spirit. It does not deny the theistic point of view but recognizes it in its rightful hierarchic place and subordinates it to a truly transcendental concept.

We are being told that theism is an incomplete worldview because "it lacks the extreme hierarchic apex."  Theism doesn't go all the way to the top. Even if  God is self-subsisting Being itself, ipsum esse subsistens, as on the rarefied conception of Aquinas, which is beyond the prevalent 'God is a being among beings' conception, there is something still higher in the hierarchy, namely 'something' which is beyond Being and Nonbeing. The God of Aquinas is. He is an ens, even if he is also esse.  He is also a personal being. The Absolutely Unconditioned, however, is beyond personality and impersonality as it is beyond Being and Nonbeing.  God is not denied by Buddhism, but placed below the ultimately transcendent.

It is freely admitted that things are less simple than they seem in Western theol­ogy, especially in the realm of mysticism, and more particularly where it is con­cerned with so-called "negative theology." Also in the West the notion of a personal God occasionally merges into the idea of an ineffable essence, of an abysmal divin­ity, as the έν conceived by the Neoplatonists beyond the όν, as the Gottheit in the neuter beyond the Gott, which, after Dionysius the Areopagite, appeared frequently in German mysticism and which exactly corresponds with the neuter Brahman above the theistic Brahmā of Hindu speculation. But in the West it is more a notion wrapped in a confused mystical cloud than a precise doctrinal and dogmatic definition conforming to a comprehensive cosmic system. And this notion, in point of fact, has had little or no effect on the "religious" bias prevalent in the Western mind: its only result has been to carry a few men, confused in their occasional intuitions and visions, beyond the frontiers of "orthodoxy."

Evola's point seems basically correct: the negative theology of the mystics never became mainstream in the way that Aquinas's conception became mainstream in the Catholic church. 

That very apex that Christian theology loses in a confused background is, instead, very often placed consciously in the foreground by the Aryo-Oriental tradi­tions. To talk in this respect of atheism or even of pantheism betrays ignorance, an ignorance shared by those who spend their time unearthing oppositions and anti-theses. The truth is that the traditions of the Aryans who settled in the East retain and conserve much of what the later traditions of races of the same root who settled in the West have lost or no longer understand or retain only fragmentarily. A contributing factor here is the undoubted influence on European faiths of concepts of Semitic and Asiatic-Mediterranean origin. Thus to accuse of atheism the older traditions, particularly the Doctrine of Awakening, and also other Western traditions that re­flect the same spirit, only betrays an attempt to expose and discredit a higher point of view on the part of a lower one: an attempt that, had circumstances been reversed, would have been qualified out of hand by the religious West as Satanic. And, in fact, we shall see that it was exactly thus that it appeared to the doctrine of the Buddha (cf. p. 85-86).

The recognition of that which is "beyond both 'being' and 'nonbeing'" opens to ascetic realization possibilities unknown to the world of theism. The fact of reaching the apex, in which the distinction between "Creator" and "creature" becomes metaphysically meaningless, allows of a whole system of spiritual realizations that, since it leaves behind the categories of "religious" thought, is not easily understood: and, above all, it permits a direct ascent, that is, an ascent up the bare mountainside, without support and without useless excursions to one side or another. This is the exact meaning of the Buddhist ascesis; it is no longer a system of disciplines de-signed to generate strength, sureness, and unshakable calm, but a system of spiritual realization.

Buddhism — and again later we shall see this distinctly — carries the will for the unconditioned to a limit that is almost beyond the imagination of the modem Westerner. And in this ascent beside the abyss the climber rejects all "mythologies," he proceeds by means of pure strength, he ignores all mirages, he rids himself of any residual human weakness, he acts only according to pure knowledge. Thus the Awak­ened One (Buddha), the Victor (Jina) could be called he whose way was unknown to men, angels, and to Brahma himself (the Sanskrit name for the theistic god). Admit­tedly, this path is not without dangers, yet it is the path open to the virile mind-viriya-magga. The texts clearly state that the doctrine is "for the wise man, the expert, not for the ignorant, the inexpert." The simile of the cutting grass is used: "As kusa grass when wrongly grasped cuts the hand, so the ascetic life wrongly practised leads to infernal torments."' The simile of the serpent is used: "As a man who wants serpents goes out for serpents, looks for serpents, and finding a powerful serpent grasps it by the body or by the tail; and the serpent striking at him bites his hand or arm or other part so that he suffers death or mortal anguish-and why is this? Because he wrongly grasped the serpent-so there are men who are harmed by the doctrines. And why is this? Because they wrongly grasped the doctrines.'

It must be thus quite clear that the Doctrine of Awakening is not itself one particular religion that is opposed to other religions.

In sum, Buddhism on Evola's account is neither crassly atheistic nor crassly antireligious: it does not deny  supersensible Transcendence.  But this Transcendence is not a personal creator God who reveals himself to man, his creature, but the Unconditioned Absolute the ultimate path to which is not the path of faith and devotion but the path whereby one seeks to realize the Unconditioned Absolute in one's own consciousness by finally overcoming every duality of the discursive intellect.