In recent years, targeted therapy and immunotherapy have been applied more and more widely in tumor treatment, and reports on psoriasis induced or exacerbated by these drugs have emerged continuously. This review summarizes and evaluates targeted therapeutic drugs and immunotherapeutic drugs that allegedly induce or aggravate psoriasis according to their targets and possible mechanisms, including programmed death receptor 1 inhibitors, epidermal growth factor receptor inhibitors, human epidermal growth factor receptor 2 inhibitors, anti-CD20 monoclonal antibodies, phosphoinositide 3-kinase δ inhibitors and multi-targeted drugs. In most cases, the relationships between drugs and the occurrence of psoriasis are possible or probable, and in only a few cases the causality is certain.