The menstrual cycle is an intricate biological process governed by hormonal changes that affect different facets of a woman's reproductive system. This review provides an overview of neurotransmitter alterations during different menstrual cycle phases and their effects on physiology and psychology. During the follicular phase, rising estrogen levels increase serotonin synthesis, enhancing mood, cognition, and pain tolerance. Estrogen may also influence dopamine levels, promoting motivation and reward sensitivity. GABA, involved in anxiety regulation, may be modulated by estrogen, inducing relaxation. Ovulation involves fluctuating dopamine and serotonin levels, potentially affecting motivation and positive mood. In the luteal phase, rising estrogen and progesterone may reduce serotonin availability, contributing to mood dysregulation, while enhanced GABAergic neurotransmission promotes sedation. Menstruation is characterized by declining estrogen and progesterone, potentially leading to mood disturbances, fluctuating GABAergic and dopaminergic neurotransmitter systems, relaxation, fatigue, motivation, and pleasure variations. Understanding neurotransmitter alterations during the menstrual cycle unveils the neurobiological mechanisms behind menstrual-related symptoms and disorders, facilitating targeted interventions. Pharmacological approaches targeting neurotransmitter systems, nutritional interventions, and lifestyle modifications show promise in managing menstrual symptoms. Future research should focus on further understanding neurotransmitter dynamics, personalized medicine, unexplored neurotransmitter roles, and integrating psychosocial factors. This knowledge will enhance well-being and quality of life for individuals experiencing menstrual-related challenges.