Even in the adult brain, neural stem cells in the dentate gyrus and subventricular zone continue to produce neuronal precursors, which migrate and differentiate into functional mature neurons. This physiological neurogenesis is thought to be involved in neuronal plasticity. Moreover, recent studies indicate that adult neurogenesis can change in response to various brain insults, including psychiatric diseases, stroke, and neurodegenerative disorders. Although increased neurogenesis in these pathological conditions could contribute to the restoration and regeneration of the damaged brain, an inadequate and/or excessive supply of new neurons, or suppressed neurogenesis, could contribute to their pathophysiology. To develop successful regenerative treatments for the injured brain, we need to understand more precisely and comprehensively the mechanisms regulating adult neurogenesis under both physiological and pathological conditions.