Contemplative practices have been shown to elicit a range of experiences and insights often referred to as "nothingness". However, these encounters are frequently conflated and remain undifferentiated. Here we address this ambiguity and provide a nuanced understanding of two such events: 1) emptiness (lack of inherent existence in experience, i.e., no-thingness) and 2) cessation (‘cut’ or absence in the stream of consciousness, i.e., nothingness). We synthesize insights from Buddhist literature and empirical research, investigating the relationship between these ‘nothingness’ phenomena, their transformative effects, and neural correlates. We also examine multiple pathways that may lead to cessation and consider potential cognitive models underlying these experiences using the active inference framework. Finally, we discuss the relationship between ‘nothingness’ events and cessation of suffering and enduring equanimity, setting the stage for further development in this field. Our unique contributions involve juxtaposing various experiences of “void, oneness, non-dual awareness, pure consciousness” with insights into “emptiness and cessation”, and analyzing their potential implications for alleviating suffering.