In this paper I make an attempt to apply mythical concept of consciousness, created by Leszek Kołakowski, to the analysis of actual state of consciousness of the generation ‘68. The category of mythologized consciousness derived indirectly from The Presence of Myth will serve to interpret the countercultural revolt as a response to the breakdown of meaningful metanarratives, including primarily Marxism. Attempts to revise and later a total refutation of Marxism, which has been the key reference point for the generation of counterculture are recognized not as a rejection of certain political beliefs, but as the collapse of faith in the organizing power of this ideology and its ability to give meaning to human activities. The universality of the myth stems from the structure of mythical consciousness and the presence of intentional correlates of this consciousness is a response to the fundamental human needs. Hence, counterculture is here presented as a response to the fundamental existential needs that arise from the organization of human consciousness, and not as a reaction to landmark in political history. This analysis puts the emphasis on the cultural dimension of social change rather than political, suggesting that the counterculture was more universal phenomenon, which goes beyond the local historical circumstances.