Neuropeptides are peptides which affect the nervous system. They are derived from large precursor molecules. These are converted to neurohormones, neuropeptides of the "first generation", which can be further converted to neuropeptides of the "second generation". This review is a brief survey of the nervous system effects of neuropeptides derived from pro-opiomelanocortin (POMC) and the neurohypophyseal hormones. Processing of these molecules results in neuropeptides of the first and second generation which have similar, different, more selective or even opposite effects. Among those are effects on learning and memory processes, grooming, stretching and yawning, social, sexual and rewarded behavior, aging and nerve regeneration, thermoregulation, pain, sensitivity to seizures, and cardiovascular control. Results of animal studies as well as those of clinical studies suggest that these neuropeptides may be beneficial in aging, neuropathy, memory disturbances and schizophrenia. Most of these nervous system effects in animal studies were found before receptors in the nervous system for the various neuropeptides were detected. G-protein-coupled receptors for the neuropeptides of the "first generation", i.e., melanocortin receptors, opioid receptors, and neurohypophyseal hormone receptors have been found, in contrast to the receptors for neuropeptides of the "second generation", although there are indications that G-protein coupled receptors for these may be present in the brain.