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1. A medieval chemical philosophy having as its asserted aims the transmutation of base metals into gold, the discovery of the panacea, and the preparation of the elixir of longevity.
2. A seemingly magical power or process of transmuting: "He wondered by what alchemy it was changed, so that what sickened him one hour, maddened him with hunger the next" (Marjorie K. Rawlings).
[Middle English alkamie, from Old French alquemie, from Medieval Latin alchymia, from Arabic al-kīmiyā' : al-, the + kīmiyā', chemistry (from Late Greek khēmeia, probably alteration of khumeia, from Greek khein, khu-, to pour; see gheu- in Indo-European roots (influenced, owing to the reputation of Egyptian alchemists, by Greek Khēmiā, Egypt, from Egyptian kmt, Egypt, from feminine of km, black, in reference to the black soil of the Nile valley)).]
al·chem′i·cal (ăl-kĕm′ĭ-kəl), al·chem′ic adj.