Background: Meditation has developed over many centuries within a diverse range of religious traditions including Middle-Eastern, Indian, and East-Asian. Of these, mindfulness meditation from the Buddhist (Indian) tradition, has been the most extensively adopted in the Western secular world primarily with applications in health and well-being as pioneered by Jon Kabat-Zinn. Review: While originally developed to treat chronic pain and stress in the U.S., mindfulness training was later coupled with cognitive-behavioral therapy to treat depression in the U.K. and beyond. The present review of the literature confirms the effectiveness of mindfulness meditation in these medical applications. The various models of mindfulness that have been advanced are here reviewed and are shown to be generally based on an underlying unitary model of the human psyche. By contrast, the present model distinguishes between two modes of mindfulness, an active form and a passive form. Theory: The foundations of these two modes of mindfulness are two of three posited types of self comprising the tripartite psyche, namely, the 'intra-self' (underpinning 'active mindfulness') and the 'supra-self' (underpinning 'passive mindfulness'). The binary model of mindfulness advanced here shows how these two types of self can potentially form the basis of an effective two-stage approach to managing depression. Application: By combining both cognitive decentering using active mindfulness and existential disidentification using passive mindfulness, individuals can learn to manage their cognitive dysfunction and distorted self-identity and thereby reduce the effects of depression in their lives. A design for an empirical study is provided to test the proposed model.