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This thesis concerns the state of the art of the Western language studies of Daoist internal alchemy (neidan). The research history and its approaches are evaluated from the perspective of study of religion, based mainly on research literature in English and French. Neidan studies is a subfield of Daoist studies, which takes Daoism as a multifaceted religious tradition.The study is a discourse-oriented, research-historical and meta-theoretical analysis. As its data it takes the Western language research literature of the field until today and in its entirety: articles, article collections, monographs, dissertations, bibliographies, and translations. The Chinese original sources are not covered, neither are the popular translations. The studies are analyzed through a conceptual framework based on the theoretical part. The phases and approaches of neidan studies are conceived through a four-fold typology of research programs. Internal alchemy and its sources have been approached 1) as a part of the history of scientific thought from the 1930s to 1980s, 2) in the context of Chinese cultural history from the 1920s, 3) as discourse and doctrine from the 1970s, and 4) as religion in the context of multi-disciplinary studies since the 1990s. Instead of a paradigmatic hegemony, the research programs are interpreted as competing for the authority to speak about internal alchemy. However, the central disciplinary conventions have been those of the sinological tradition. Supplementing the four research programs, five conceptions or descriptions of neidan are distinguished. These cover the main positions taken within the research so far. Internal alchemy has been described as a) physiological alchemy, b) symbolical alchemy and a technique of enlightenment, c) as a synthesis of psycho-physiological techniques, d) as a range of esoteric doctrines and techniques, and e) as a field of variations of contemplative practice. These descriptions of the academic discourse reflect the traditional neidan discourse: they are situated on a continuum from body centered to spiritual or mind centered readings. They also vary from exclusive descriptions, which stress clarity, to more open descriptions, which cover widely the variations of the historical forms of neidan. After the general typology of the field, three special themes are observed: sexual alchemy, female alchemy, and early Quanzhen alchemy. This delimits the relatively wide data. These thematic areas cover a substantial amount of the scholars and a representative historical take of the neidantradition. However, in themselves they represent more the marginals of neidan than its mainstream. Focusing on debates and conflicts, a clearer picture is drawn of the approaches, interests, problems of the research and the differences of the research programs. Through the specific themes the state of the research field may be pictured more widely. In addition to locating and identifying the research programs, conceptions of neidan, and the debates, this study answers questions on the coverage of the studies, how the studies have responded to the challenges of the postmodern critiques, and the future prospects of the field. Possible developments would include increase in reflexivity and the level of theoretical discussion, interaction between different disciplines and comparative research both within and without neidanstudies. The relation of neidan studies to the study of religion is discussed through the comparative concept of esotericism.