This study explores the dreams of St. Francis of Assisi from the perspective of depth psychology. St. Francis's charismatic and simple approach to life has transformed him into an archetype who speaks to all who seek the path of spirituality and individuation. His dreams, and the process that they reveal, speak not only of him but of us as well. This study utilizes a hermeneutical investigation which suggests that there is an archetypal basis underlying St. Francis's dreams. Particular attention is given to the first two dreams of St. Francis, which have come to be known as the dreams of conversion. Seeing them for the first time through the lens of psychology can aid us in our understanding of human nature while enhancing the study of both spirituality and psychology. This study situates St. Francis's dreams of conversion within the historical and psychological context of dream theory. The dream is defined and explained historically from the ancient Greeks, through the Bible and the Early Church Fathers, to modern theorists of dream interpretation, especially Freud, Jung, and Hillman. Recent physiological dream research is presented to challenge and extend the meaning of dream interpretation. Significant aspects of Francis's life are presented as well as the socio-cultural milieu in which they occurred. The primary early biographies which contained his dreams are compared and explained. Special attention is given to interpreting St. Francis's dreams using the approach developed by Carl Gustav Jung. It is hoped that analysis of St. Francis's dreams will reveal dimensions of his psychological process that will inspire and aid both those who are spiritual seekers and those who guide them.