The article considers the problem of myth in the late works of Jean Baudrillard, which go far beyond the postmodern paradigm of thinking. It is shown that the development of the work of the French thinker was dictated by the logic of breakthrough, which forms a peculiar dialectic of “meetings” and “partings,” where a meeting with the postmodern myth of simulation meant breaking up with the myth of the scientific, and breaking up with the postmodern myth, in turn, meant a transition to new horizons of understanding the mythological component of modernity. The author analyzes various forms of mythological hermeneutics from archaic to postmodern and shows the specifics of understanding the role and significance of myth in Baudrillard’s work. A special place here is occupied by the exposition of the myth of progress, which logic of constant addition paradoxically leads to a catastrophe of meaning, since it underlies the uncontrolled escalation of messages in the modern era. And if the postmodern multiplication of information flows annihilates the conditions of our universe as objective, then, according to Baudrillard, in order to get access to the true world, we now need to learn to subtract. The article concludes with a consideration of the multidimensional ontological understanding of myth in late Baudrillard, where the myth of happiness, leaving the territory of the difference between good and evil, acts as a paradigm for modernity.