Lapis lazuli is deeply rooted in spiritual and metaphysical traditions. This stone is often referred to as the "Stone of Wisdom and Truth." It is believed to enhance intuition, inner wisdom, and spiritual insight. Lapis lazuli is also associated with the third eye chakra, which is the center of intuition and inner vision. In esoteric practices, lapis lazuli is thought to facilitate spiritual awakening and connection to higher realms. It is said to help individuals access divine guidance, cosmic wisdom, and celestial awareness. The stone is also believed to protect against negative energies and promote peace and serenity.

Jung shared an ancient Buddhist text (the Sutra of Meditation on Amitayus), which describes how an advanced yogi's gaze can penetrate through the floor of lapis lazuli and into the depths of the secrets of the unconscious. Jung used this metaphorically to describe how we interact with the world on the outside through the chaos of our everyday lives. The person who is willing and brave enough to peek into the depths of their personal unconscious, the place "which contains all that one would like to forget, and all that one does not wish to admit to oneself or to anybody else, and which one prefers to believe is not true somehow."

In alchemical practices, lapis lazuli was thought to aid in purification and transformation, helping to bring clarity and higher knowledge. It was also used in the creation of the pigment ultramarine blue, which was highly prized for its vibrant hue and rarity.