In his work on the history of religion, Eliade is most highly regarded for his writings on Alchemy, Shamanism, Yoga and what he called the eternal return--the implicit belief, supposedly present in religious thought in general, that religious behavior is not only an imitation of, but also a participation in, sacred events, and thus restores the mythical time of origins. Eliade's thinking was in part influenced by Rudolf Otto, Gerardus van der Leeuw, Nae Ionescu and the writings of the Traditionalist School (Rene Guenon and Julius Evola). For instance, Eliade's The Sacred and the Profane partially builds on Otto's The Idea of the Holy to show how religion emerges from the experience of the sacred, and myths of time and nature.  Eliade is known for his attempt to find broad, cross-cultural parallels and unities in religion, particularly in myths. Wendy Doniger, Eliade's colleague from 1978 until his death, has observed that "Eliade argued boldly for universals where he might more safely have argued for widely prevalent patterns". His Treatise on the History of Religions was praised by French philologist Georges Dumezil for its coherence and ability to synthesize diverse and distinct mythologies.  Robert Ellwood describes Eliade's approach to religion as follows. Eliade approaches religion by imagining an ideally "religious" person, whom he calls homo religiosus in his writings. Eliade's theories basically describe how this homo religiosus would view the world. This does not mean that all religious practitioners actually think and act like homo religiosus. Instead, it means that religious behavior "says through its own language" that the world is as homo religiosus would see it, whether or not the real-life participants in religious behavior are aware of it. However, Ellwood writes that Eliade "tends to slide over that last qualification", implying that traditional societies actually thought like homo religiosus.

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religious behavior "says through its own language" that the world is as homo religiosus would see it,