Demons and other evil beings do not possess a soul. However, half-demons such as Cole Turner do possess a soul granted by their human half. Living without a soul would make a person feel empty, though they can still be choose to be good. The demonic Seer Kyra desired to become mortal knowing that she would ultimately not possess a soul.
Souls are valuable in the Underworld and are used as currency. There has been a lot of business with souls for demons. Souls can be contained in white glowing or flaming orbs or appear in spirit form.
- Valkyries are a race of demi-goddesses that search battlefields for souls of worthy warriors. They contain their souls and transport them to Valhalla, where they train for the Final World Battle.
- Masselin was a demon that assisted mortals in accomplishing their goals, taking their and others' souls as payment.
- Raynor, the leader of the Brotherhood of the Thorn, tempted Cole back to evil by promising him his deceased father's soul.
- Cole Turner, while possessed by the Source, occasionally gained control of the Source due to his human soul and his love for Phoebe, allowing him to protect innocents and save the sisters, although the Source's influence was still too strong for Cole to completely resist it.
- The Spirit Extractor is a type of demon that rips the souls out of humans, rendering them susceptible to demons' suggestions.
- Zahn was a demon who gained more powers by auctioning off mortal souls he had obtained through Faustian Deals. He was known to be an expert in Demonic Law.
- Guardians make mortal criminals carve a demonic rune into an innocents forehead, usually with an athame. The Guardian, in spirit form, then leaves the possessed to suck the soul out of the victim through the rune.
- Angel of Death is tasked with the responsibility to guide souls into the afterlife according to his list.
Soul Containment is the ability to contain souls of the dead in form of crystals, balls of white energy or balls of fire. This power is often used by evil beings to contain souls to trade with.
Soul Absorption is the ability to absorb souls of the dead or transient, whether it be mortal or magical. Most beings possessing this ability use it to transport these souls into their respective places in the afterlife.
Soul Blasting is the ability to fire a blast of lightning-like energy that can extract the souls of other beings. When victims are hit with a blast, the bodies fall to the ground and the soul is immediately separated from the body.