Mihail Petrov Arnaudov (1878-1978), a Bulgarian scientist, was a famous European researcher with significant contributions to several fields of scholarship, i.e., folklore, the history of Bulgarian literature of the Renaissance, comparative literary history, the literature and culture of ancient India, the theory of literary science, the history of German and French literature of Romanticism, etc. This paper is devoted to his contribution to the study of the psychology of literary creativity. It analyses the prerequisites for Arnaudov’s formation as a psychologist of creativity, and provisionally identifies several main stages in his scientific and professional path, during which he conducted research and produced works in this interdisciplinary field. With the help of historical and psychological analysis, the general and specific features in the development of his views on the essence of the psychology of creativity and the meaning of its use in literary criticism and literary history are presented.