Analytic formulation and contribution to treatment of psychotic disorders have little application in modern psychiatry. The medical model, largely based on psychopharmacology and biological conceptualisation of illness, particularly dominates the treatment of psychosis. While many analysts have worked with patients in psychotic states, it is rare to find analytic approaches to psychosis within the national health service (NHS) in the UK. We feel this a detriment to a sometimes difficult to treat patient group. Jung spent his early working years devoted to patients with psychosis at the Burgholzli hospital in Zurich. Later on in his career, Jung had personal experience of psychotic symptoms, interacting with visions and voices within his own mind, that are noted in his posthumous Red Book. Jung is, therefore, arguably one of the most experienced analysts and depth psychologists in the realm of psychosis. In this paper we describe Jung’s in-depth psychological approach to the genesis of psychosis. We then discuss parallels with our contemporary understanding of the aetiology of psychosis. Our aim is to highlight the importance of an analytical approach and thinking in a) understanding the aetiology and b) contribution to treatment of such a complex and intractable disorder as psychosis.