Mounting evidence links obesity, metabolic dysfunction, mood, and cognition. Compromised metabolic health and psychological functioning worsen clinical outcomes, diminish quality of life, and contribute to comorbid conditions. As a medication with both insulin-sensitizing and anti-inflammatory effects, metformin affords the exciting opportunity to abrogate the bidirectional relationship between poor metabolic health and psychological function. In the current paper, we review the literature linking metformin to mood and cognitive function, examine potential underlying mechanisms, and suggest new directions for investigating the role of metformin in increasing adherence to health behavior recommendations.