--- - |2 Abstract Public discourse and scholarly literature often make a strong connection between paranoid thought and belief in conspiracy theories. We report one meta‐analysis and two correlational studies across two distinct cultural contexts (total N = 578) to provide an estimate for their association but also evidence for their distinctiveness via a multi‐trait‐multi‐method approach. Whereas the meta‐analysis (k = 11 studies) provided support for a reliable association between paranoia and conspiracy beliefs, the two additional studies provide direct evidence for their distinctiveness and divergent associations with other constructs. Although both assume sinister intentions of others, beliefs in conspiracy theories are more specific in who these others are (powerful groups) than paranoia (everyone). In contrast, paranoia was more restricted in terms of who the target of the negative intentions is (the self) than conspiracy theorizing (society as a whole). In light of this and distinct associations of conspiracy beliefs with political control and trust but not (inter‐)personal control and trust (like paranoia), we propose to treat the two as distinct (albeit correlated) constructs with conspiracy beliefs reflecting a political attitude compared to paranoia as a self‐relevant belief. - European Journal of Social Psychology, EarlyView.