The use of psychedelics has recently gained increased interest among bioethicists, as the articles published in this journal attest. Some of the recent scholarship suggests that psychedelic experiences may help individuals reconnect to their values and alter personal values and identity. We propose that narrative hermeneutics may offer valuable tools for assisting meaning-making and reducing the ethical risks associated with such value changes, including those arising in psychedelic-assisted therapy. We therefore apply narrative hermeneutics in the context of psychedelic value changes to enrich the bioethical debate.