Today, a great many pagans identify themselves as pantheists. Like other pantheists, pagans too believe that divinity is manifested everywhere, yet they are distinctive in that they relate to whatever they conceive of as God primarily through nature. They celebrate solstices, equinoxes and other natural passages, and they typically have a strong environmental ethic and a deep love of the natural world.

Many pagans are straight pantheists, using polytheism as a metaphoric way of approaching the cosmic divinity they believe in. Some people feel the need for symbols and personages to mediate their relationship with nature and the cosmos, and most say that there is no harm in this, as long as the symbols help them to connect to reality and do not block or distort their view of the cosmos. Pantheists can, however, also relate directly to the universe and to nature, without the need for any intermediary symbols or deities.

However, many pagans are literal polytheists and believe in magic, reincarnation, and the irrational. Modern pantheists are not generally polytheistic and do not believe in magic or disembodied spirits of any sort. Most of them also do not believe in a personal afterlife, whether through reincarnation or transport to any kind of non-material "heaven."