Neural stem/progenitor cells (NSCs) are seen in both the developing and adult central nervous system (CNS). During development of the CNS, NSC and progenitors appear to be committed to the generation of specific types of neural cells. The production of neurons from NSCs and their progenitors typically occurs from the early embryonic development period to early postnatal periods whereas the production of glia during development occurs from the late embryonic development period to postnatal periods. The NSC niche comprises varied types of cells and structures, which include astrocytes, neurons, axon projections and blood vessels. Thus, NSC division and self-renewal, as well as differentiation of NSC offspring into mature neurons or glia are regulated by signals from other cell types residing in a multicellular niche as well as NSC themselves. Aberrant NSC activity may contribute to several psychiatric disorders such as schizophrenia, autism spectrum disorders and major depressive disorder.