Levy's main exposure since then has been for Total Nonstop Action Wrestling (then NWA-TNA), and in Europe for the Frontier Wrestling Alliance, where he reverted to his original grunge image. He also appeared in Ring of Honor that year, battling CM Punk in one of the company's most famous feuds, which was based around Punk's straight-edge lifestyle as opposed to Raven's years of drug and alcohol abuse during the height of his fame in the late nineties.

Raven debuted in TNA Wrestling on January 22, 2003, two days after his release from WWE, attacking Jeff Jarrett and stealing the NWA World Heavyweight Title from him. A fan in the crowd displayed the following sign on Raven's first night in TNA: "Vince fears Raven."Raven then embarked upon a long-running storyline in which he claimed it was his "destiny" to win the NWA World Heavyweight Title. On April 30, 2003 Raven got his first shot at Jeff Jarrett's NWA World Heavyweight title. In a bloody match marred with outside interference and weapons, Jeff Jarrett defeated Raven.

On September 17, 2003, Raven lost his trademark long hair after he was defeated by Shane Douglas in a hair versus hair match, thanks to the surprise interference of Vampiro. He later regrew it. This is notable because when his head was shaved by James Mitchell, Mitchell shaved too deep, cutting into Raven's scalp, and creating a bloody mess. While in TNA, he formed a stable known as The Gathering, which included Punk and Alexis, though they would later turn on him. In 2003, Raven feuded with James Mitchell and the Disciples of the New Church. Raven took them all out one by one just like he said, but with help from The Gathering. Raven ended his feud with James Mitchell in a Last Man Standing match, which was won by Raven.

In 2004, Raven teamed up with The Sandman to go against The Gathering. The Gathering won due to interference from James Mitchell, who had aligned himself with The Gathering. Raven then teamed with Terry Funk to defeat the Gathering, even though James Mitchell tried to interfere.

Also in 2004, Raven's old friend Sabu returned to TNA Wrestling. Raven teamed with Sabu to defeat The Gathering one last time. Raven and Sabu would then feud with Abyss and "The Alpha Male" Monty Brown. Abyss and Monty Brown would outnumber Sabu on many occasions, when Raven failed to watch Sabu's back. Raven waged a campaign against Sabu, disrespecting the memory of his uncle and assaulting Sabu's mouthpiece, Sonjay Dutt, until Sabu finally broke and attacked him on July 23. Raven defeated Sabu in a no holds barred match on August 4, and a scheduled return match on August 18 was canceled after Sabu (legit) suffered a back injury. The next year saw Raven falling in various feuds, with names such as Diamond Dallas Page, Erik Watts, Jeff Hardy, Dustin Rhodes, Abyss, Sean Waltman, and Monty Brown. He also competed in the very first Monster's Ball match, with Abyss and Brown.

On June 19, 2005, Raven turned face and fulfilled his self-proclaimed destiny when he won the NWA World Heavyweight Championship at TNA Slammiversary (by taking Jeff Jarrett's place after Jarrett attacked a fan from the crowd earlier that night and got arrested), defeating A.J. Styles, Abyss, Sean Waltman, and Monty Brown in a five way King of the Mountain match. He would go on to successfully defend the title in two defenses over the following months against Abyss at No Surrender, and Rhino two months later at Unbreakable. On September 15, 2005 Raven lost the NWA Title to Jeff Jarrett in Oldcastle, Ontario, Canada, at a special event of Border City Wrestling. America's Most Wanted ("Wildcat" Chris Harris and "Cowboy" James Storm) came out and interfered on Jarrett's behalf. BCW officials immediately contacted TNA Director of Authority Larry Zbyszko, who declared the title change official.[3] (TNA had briefly gone dark on its national television timeslot prior to jumping to Spike TV, prompting a title change in another NWA based promotion). This led to Raven feuding with Larry Zbyszko, who brought in wrestlers like PJ Palaco (Justin Credible) and Chris K (Kanyon) to wrestle Raven. This culminated in a match a Final Resolution 2007 where Raven wrestled Sean Waltman with the stipulation that if Raven lost he would have to leave TNA. Raven would lose the match, and went on hiatus as a result. However the real reason for his leaving was to deal with a thyroid condition.

Raven would return to TNA on April 23, 2006 at the Lockdown pay-per-view, and reignited his feud with Zbyszko. They would end their feud at Victory Road 2006 in a Hair vs. Hair match which Raven won. He has since continued to wrestle sporadically due to the thyroid condition that he has been dealing with.[citation needed] His last major angle involved a feud between Abyss and Brother Runt. Subsequent to this, his coverage in major televised angles has dropped considerably. While he was off-air, an alliance was teased between Kazarian, Johnny Devine, and Matt Bentley. On the TNA Primetime Special before Genesis 2006, the three came out in goth, addressing a new movement in TNA. After a loss at the pay-per-view, sporting a new look (often with a mask), Raven revealed himself as their leader, caning the loser of the match. This stable became known as Serotonin. The direction of this stable has been very hard to place, although they have thus far lost the majority of their televised matches. When they lose, Raven hits the loser with a cane. After a long hiatus, Raven returned to the ring, losing to Christopher Daniels in a First Blood Invitational then losing to Chris Harris after interference from Kaz. Raven's most recent appearance in TNA saw him come out after Kaz's win over Havok and Martyr and hit Kaz in the back with a Kendo Stick, breaking it over Kaz's back. Raven, Havok, and Martyr then attacked Kaz with Kendo Sticks. On the July 19th edition of IMPACT!, Raven and the rest of Serotonin took on the reuniting Triple X. Raven had very little time in the match and Serotonin lost after Skipper hit a top rope leg drop Daniels hit a BME and Senshi hit the Warrior's Way on Havok. Raven recently won a House Of Fun match, on the 9th of August edition of impact. He teamed with Robert Roode and James Storm against the team of "The Wildcat" Chris Harris, Rhino & Kazarian. Raven lost to Kazarian at Hard Justice despite having the remaining members of Serotonin involve themselves in the match.Raven has become more involved in the ring in recent months and is said to be getting back into shape. He stated that he was biding his time and waiting for guys like Joe, Christian and Angle to tear each other apart and then he would be there to reclaim the TNA Championship. He then issued a challenge to Abyss and Rhino at Bound For Glory. Abyss later had Black Reign added to the match and made it a Monsters Ball. Up to now Raven has join a stable with Judas Mesias, Black Reign, and Havok that is managed by James Mitchell.