The new movement in psychedelics transforms ideas and practices related to mental health and the science of transcendent experience. It is on a path, though, to exclude Indigenous voices and millenary knowledge from which these medicines originate. Indigenous contemplative practices are noticeably absent in psychedelic-assisted therapies. No involvement of Indigenous Peoples determines best practices in Western psychedelic research, which perpetuates colonial patterns of extraction, appropriation, and failure to share benefits. This initiative urges an Indigenous-Western dialogue to determine ethical approaches in psychedelic research. This dialogue takes into account the importance of (1) the establishment of lines of reparation and mutual benefit relationships that include acknowledgment of and retribution to Indigenous communities; (2) the inclusion of Indigenous practices relevant to psychedelic use in the development of Western research; and (3) the strengthening of Indigenous and Western health and education systems to enable access to well-being for all communities involved.