To date, over 170 types of RNA modifications have been identified. As reversible and dynamic processes, RNA modifications participate in post-transcriptional regulation of mRNA, as well as chromatin and transcriptional regulation. N6-methyladenosine (m6A) modification, the most prevalent one, is currently the most extensively studied and understood type of RNA modification, with an increasing body of research revealing its relevance to the occurrence, development, and treatment of various diseases. The roles of other RNA modifications are also being progressively elucidated. Previous studies and discussions on RNA modifications in diseases have mainly focused on cancer; however, recent studies have confirmed the participation of RNA modifications in the regulation of neurological and psychiatric disorders. This review aims to summarize the roles and mechanisms of RNA modifications in neurological and psychiatric disorders, providing new insights for drug development and clinical treatment.