In the last sixty years Finnish analytical philosophers have been extensively investigating induction and probability, and their role in empirical sciences. In this paper the main lines and outcomes of such studies are examined. In particular, the following issues are considered: von Wright’s theory of inductive elimination and his analysis of inductive probabilities; the theory of inductive probabilities developed by Hintikka and his school; the contributions made by Finnish students to the development of Bayesian epistemology, i.e., the Bayesian analysis of inductive inferences and scientific method.