The Mongols are a deeply spiritual people. Shamanism in Mongolia originated around 5000-6000 years ago, reaching its peak during the 3rd century BC. Shamanism is based on reverence and worship of nature. For centuries, shamanism has influenced the nomadic attitude towards nature. Respect for nature is still evident today in the custom of worshiping and erecting ovoo (stone poles with offerings atop mountains). Mongolian shamanism venerates three totems: the father of the heavens, the mother of the earth, and the spirits of ancestors. Shamans perform divinations wearing special costumes and using specific ritual tools. Today, shamanism is still practiced among ethnic groups such as the Tsaatan, Tuva, and Buriad who live in the Khuvsgul area and eastern Mongolia.

Buddhism spread in Mongolia in three major waves. The first wave was brought by trade along the Silk Road, part of which traversed the southern part of Mongolia. The second wave arrived during the reign of Kublai Khan. The last began in the 16th century by Under Gegeen Zanabazar, the first Bogdo or theocratic leader of Mongolia, a direct descendant of Genghis Khan. He designed lamaist rituals, rules for lamas regarding the creation of attributes and musical instruments for religious rituals and public worship services. Buddhism in Mongolia belongs to Mahayana, the Great Wheel Teaching. Between the 16th and 18th centuries, approximately 800 monasteries and temple complexes were built on Mongolian territory, most of which were destroyed during the religious persecution of the 1930s by the communists. Today, Buddhism is experiencing a revival with the restoration of over 100 monasteries and temples and a return to freedom of belief and worship for Mongolians.