ABSTRACT The reemergence of serotonergic psychedelics in clinical research and practice has sparked numerous debates within bioethics. This paper aims to provide an overview of the key issues discussed in the emerging field of psychedelic ethics. It organizes these issues into four (partly overlapping) categories: (1) the implementation and execution of psychedelic research and practice, (2) the ethics of belief as applied to PAT, (3) discrimination and injustice in psychedelic research and practice, and (4) potential consequences arising from the expansion of psychedelic research and a possible future approval of PAT. Overall, the paper shows that in just a few years, psychedelic ethics has become a thriving area within bioethics—one that is essential for grounding the rapid clinical developments in robust ethical reflection.