The present study examined the relationship between naturalistic psychedelic use and two distinct forms of grandiose narcissism: admiration and rivalry. Using data from an online survey, we compared psychedelic users (N = 630), non-users (N = 100) and individuals planning to use psychedelics in the future (N = 141) on levels of admiration and rivalry. Additionally, we explored how these two forms of narcissism related to the intensity of past ego dissolution and mystical experiences. Psychedelic users reported higher admiration and lower rivalry than non-users who did not intend to use psychedelics. No significant differences emerged between users and those intending to use psychedelics. Among users, ego dissolution experiences were associated with lower rivalry, while mystical experiences were linked to higher admiration. Notably, effect sizes in all analyses were small, warranting caution when interpreting the relevance of the reported effects. By highlighting these opposing patterns in admiration and rivalry, our findings contribute to the understanding of how specific personality traits relate to psychedelic use. Future longitudinal and experimental studies are needed to clarify the direction of these relationships and to investigate contextual and individual factors shaping psychedelic experiences and their psychological outcomes.