Within the depth-psychology and comparative-religion corpus, ‘Olympian’ functions as a charged structural concept designating not merely a class of Greek deities but a specific mode of divine being — anthropomorphic, individuated, sky-oriented, and personality-centered — that stands in constitutive tension with older chthonic, daemonic, and eniautos-bound forms of the sacred. Jane Ellen Harrison’s Themis provides the most sustained theoretical treatment, reading the Olympian as the product of a historical-religious trajectory in which the Earth-daemon sheds his animal form, severs his bond to seasonal function, and demands honour rather than performing work — a ‘degradation’ that sacrifices vital reciprocity for prestige. Walter F. Otto, by contrast, recuperates the Olympian as the supreme achievement of Greek spiritual vision, the form in which existence discloses itself as beautiful and complete. Bruno Snell anchors the Olympians within the intellectual history of Greece, arguing that Homer’s formalization of the Olympian pantheon created the very conceptual world in which Greek art, poetry, and philosophy became possible. Kerenyi and the Jung–Kerenyi collaboration complicate the picture by tracing primitive, pre-hierarchical substrates that persist inside the Olympian order, notably in Hermes. Nietzsche inserts the Olympians as a dream-screen against primordial terror. The central tension in the corpus is thus between the Olympian as civilizational achievement and as theological impoverishment — a displacement of living power by luminous form.