The author develops a new conception of religion appropriate for modern post-secular conditions. In these conditions, neither secular model of religion, typical to Modernity, nor pre-secular understanding of religion / religiosity can be considered as fitting to socio-cultural reality. It is especially stressed that secular understanding of premodern religion distorts religion’s nature by allotting it a fixed and therefore limited place in line with the idea and practice of functional differentiation typical to European societies of the Modern age.