Ubik (/ˈjuːbɪk/ YOO-bik) is a 1969 science fiction novel by American writer Philip K. Dick. The story is set in a future 1992 where psychic powers are utilized in corporate espionage, while cryonic technology allows recently deceased people to be maintained in a lengthy state of hibernation. It follows Joe Chip, a technician at a psychic agency who begins to experience strange alterations in reality that can be temporarily reversed by a mysterious store-bought substance called Ubik. This work expands upon characters and concepts previously introduced in the vignette "What the Dead Men Say".

Ubik is one of Dick's most acclaimed novels. In 2009, it was chosen by Time magazine as one of the 100 greatest novels since 1923. In his review for Time, critic Lev Grossman described it as "a deeply unsettling existential horror story, a nightmare you'll never be sure you've woken up from".

By the year 1992, humanity has colonized the Moon and psychic powers are common. The protagonist, Joe Chip, is a debt-ridden technician working for Runciter Associates, a "prudence organization" employing "inertials"—people with the ability to negate the powers of telepaths and "precogs"—to enforce the privacy of clients. The company is run by Glen Runciter, assisted by his deceased wife Ella who is kept in a state of "half-life", a form of cryonic suspension that allows the deceased limited consciousness and ability to communicate. While consulting with Ella, Runciter discovers that her consciousness is being invaded by another half-lifer named Jory Miller.

When business magnate Stanton Mick hires Runciter Associates to secure his lunar facilities from alleged psychic intrusion, Runciter assembles a team of 11 of his best inertials, including recent hire Pat Conley, a mysterious girl with the unique psychic ability to undo events by changing the past. Runciter and Chip travel with the group to Stanton's Moon base, where they discover that the assignment is a trap, presumably set by the company's main adversary, Ray Hollis, who leads an organization of psychics. A bomb blast apparently kills Runciter without significantly harming the others. They rush back to Earth to place him into half-life, but they cannot establish contact with him so his body is set to be buried.

From the moment of the explosion, the group begins to experience shifts in reality. Many objects they come into contact with (especially cigarettes) are much older than they should be, some being older types of the same object, and are rapidly deteriorating. They gradually find themselves moving into the past, eventually anchoring in 1939. At the same time, they find themselves surrounded by "manifestations" of Runciter; for example, his face appears on their money. As the novel progresses, members of the group one by one begin to feel tired and cold, then suddenly shrivel and die. Chip attempts to make sense of what is happening and discovers two contradictory messages from Runciter, one stating that he is alive and they are dead, and another claiming to have been recorded by him while he was still alive. The latter message advertises Ubik, a store-bought product which can be used to temporarily reverse deterioration and which often appears as a can of aerosol spray. Chip deduces that they may have all died in the blast and are now linked together in half-life, and unsuccessfully tries to get hold of Ubik.

After receiving another message and travelling to Runciter's hometown, Chip accuses Conley of working for Hollis and causing the deterioration with her ability, and while he himself is withering away, she confirms this. As she leaves him to die, he is saved by Runciter, who sprays him with Ubik and tells him that the group is indeed in half-life and he himself is alive and trying to help them, although he does not know where Ubik comes from. As Runciter disappears, Jory reveals himself to Chip, telling him that he, not Conley, has now killed off the entire group (including Conley), as he "eats" half-lifers to sustain himself, and that the entire reality they are experiencing is created and maintained by him. Fortunately, Chip is temporarily protected from being consumed through the effect of Ubik, and leaves Jory. As he at last begins to deteriorate again, he meets Ella, who saves him by granting him a certificate for a life-long supply of Ubik, and instructs him to stay half-alive and seek cans of Ubik to further assist Runciter after she herself reincarnates. It is implied that Jory has allies in the real world who help him find other half-lifers to consume in order to prolong his own half-life, or that entities like Jory can arise from any collection of half-lifers. Ubik is claimed to have been developed by Ella and several other half-lifers as a defense against Jory.

Each chapter is introduced by a commercial advertising Ubik as a different product serving a specific use. The last chapter is introduced by Ubik claiming that it has created and directed the universe, and that its real name is unknown and unspoken. In this short chapter, Runciter, who is in the "living" world mourning the loss of his best employees, discovers coins showing Chip's face, and feels that this is "just the beginning".

Dick's former wife Tessa remarked