Mental disorders represent a concern for the public health because of their prevalence in the general population. Despite progress in psychopharmacology, 20-30 % of the patients suffering of depressive disorders are responding only partially to different pharmacological and psychological therapeutic strategies. Until recently, the therapeutic alternative in refractory depression was the electroconvulsive therapy. New therapeutic approaches should be therefore explored. In October 2008 repetitive transcranial magnetic stimulation was approved as an antidepressive monotherapy by the FDA, opening the way to a routine application of this technique, which will supplement the body of our therapeutic armamentarium for mood disorders. We review this new therapeutic approach, which is rapidly developing for treating depression and schizophrenia.