In recent years, several early-phase clinical trials have provided preliminary evidence that psychedelic therapy – treating patients with psilocybin, LSD, or the DMT-containing plant medicine ayahuasca in a carefully controlled setting – is an effective treatment for various mental disorders. Qualitative patient interviews suggest that one way in which psychedelic therapy works is by promoting sustainable transitions from experiential avoidance to acceptance. So far, the psychological mechanisms underlying such change remain largely unclear. In this short talk, I will present a conceptual model that specifies how acute psychedelic ‘belief relaxation’ in combination with the particular context established according to psychedelic therapy protocols may facilitate the same acceptance-promoting learning processes that are also targeted by cognitive-behavioral therapy (CBT) interventions. Open research questions and implications for clinical practice will be discussed.