There is an increasing incidence of psychiatric disorders, especially mood disorders such as depression and anxiety, as well as insomnia and dementia. Consequently, there is a greater need for the use of alternative therapeutic methods in addition to standard therapies. Phytotherapy is a branch of medicine that deals with the treatment of diseases and the promotion of health using plant-based medicines known as phytotherapeutics. Herbal preparations have been traditionally used for centuries for various ailments, from psychiatric to somatic. Some of the most researched plant substances for the treatment of depression, anxiety, and insomnia are St. John's Wort, valerian, passionflower, kava kava, and lemon balm, while ginkgo is considered particularly effective in improving memory and cognition. Despite their advantages, they also have side effects and interactions with other medications and substances, and must therefore be taken with caution. It is particularly important to educate physicians about herbal preparations and to communicate with patients about the benefits and risks of their use. One of the main drawbacks of using phytotherapeutics is the lack of clinical research on their effectiveness and safety, and thus it is not yet possible to replace standard medications with herbal preparations.