In the article the process of emergence and development of ancient Greek philosophy of mythology is considered. The main trends in interpretation of the phenomenon of mythology by Ancient Greek thinkers are analyzed. The study of this issue allows to understand the special features of the process of demythologization and rationalization of public consciousness, and besides it allows to establish the reasons of this process. Thus, the task of studying the development process of ancient philosophy of mythology and also the role of mythology in ancient spiritual culture are set. Thus, in this article an attempt to show the fact of close connection of antique intellectual tradition with mythological outlook is made. The tendency to reconsideration of plots of traditional mythology was outlined in works of great Ancient Greek poets – Homer and Hesiod that paved further the way for desacralization of mythology and its rational analysis. With the development of ancient rationalistic philosophy the first theories of explaining the phenomena of mythology and the formation of myths – evgemerism and allegorism appeared. Thus, ancient Greek philosophers, did not consider myth as a source of reliable knowledge, treating it either as completely illusory knowledge, or knowledge that needed special interpretation. At the same time, despite steady desacralization, mythology continued to perform a number of major social functions in Ancient Greek society. As a result it is possible to draw a conclusion that the reader can consider development of ancient intellectual and spiritual culture as difficult and long transition from direct emotional sensory perception of myth to its rationally symbolical interpretation. The ancient Greek philosophy of mythology fully reflects this trend. On the one hand it tries to overcome myth, having turned it into the object of study and analysis, on the other hand it is influenced (as well as the whole culture of Antiquity) by a strong influence of mythological outlook.