Hyperbaric oxygen therapy (HBOT) is a noninvasive method that supplies pure oxygen under a pressure greater than normal atmospheric pressure to increase the partial pressure of oxygen in the plasma and tissue. Based on the potential mechanisms of HBOT, including neuroprotection and neurological recovery, HBOT has been suggested as a promising therapeutic option for neurological and psychiatric disorders. This review specifically focused on the clinical trials applying HBOT for psychiatric disorders published during the recent decade. We critically reviewed the efficacy and safety of HBOT in psychiatric disorders, and cautiously suggested the future directions for further research.