This paper substantiates why Jung’s psychology is still highly relevant for understanding science today. I explore how his methods and insights allow us to come to terms with the phenomenon of scientific discovery. After outlining core Jungian concepts and insights concerning science, I will focus on the relationship between alchemy and modern science. Also, I will highlight Jung’s understanding of scientific research as a practice of the self, directed at individuation (the integration of various aspects of the self into a coherent whole). Finally, I discuss the role of archetypes in the context of discovery of modern science. Whereas archetypal ideas may function as sources of insight and inspiration, the task for researchers is to come to terms with them, instead of being overwhelmed by them. Besides case studies discussed by Jung himself, I also present more recent examples, taken from molecular life sciences research and climate change research.