After a hiatus of nearly 40 years, psychedelic drugs (or hallucinogens) are being increasingly researched as possible adjuncts to psychotherapy for treatment‐resistant anxiety disorders and addictions.This research offers an exciting future for this class of drugs whose image has been tarnished by recreational use since the 1960s.Through cautious and evidence‐based studies, these medications could be finding their way back to where they began their lives: as valid and effective tools for clinical medicine and neuroscientific research. Copyright © 2008 Wiley Interface Ltd