During the past decade, online social networking has caused profound changes in the way people communicate and interact. It is unclear, however, whether some of these changes may affect certain normal aspects of human behavior and cause psychiatric disorders. Several studies have indicated that the prolonged use of social networking sites (SNS), such as Facebook, may be related to signs and symptoms of depression. In addition, some authors have indicated that certain SNS activities might be associated with low self-esteem, especially in children and adolescents. Other studies have presented opposite results in terms of positive impact of social networking on self-esteem. The relationship between SNS use and mental problems to this day remains controversial, and research on this issue is faced with numerous challenges. This concise review focuses on the recent findings regarding the suggested connection between SNS and mental health issues such as depressive symptoms, changes in self-esteem, and Internet addiction.