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Cortico-limbic circuits provide a substrate for adaptive behavioral and emotional responses. However, dysfunction of these circuits can result in maladaptive responses that are associated with psychopathology. The prefrontal-limbic pathways are of particular interest because they facilitate interactions among emotion, cognition, and decision-making functions, all of which are affected in psychiatric disorders. Regulatory aspects of the prefrontal cortex (PFC) are especially relevant to human psychopathology, as the PFC, in addition to its functions, is more recent from an evolutionary perspective and is considerably more complex in human and nonhuman primates compared with other species. This review provides a neuroanatomical and functional perspective of selected regions of the limbic system, the medial temporal lobe structures—the hippocampus and amygdala as well as regions of the PFC. Beyond the specific brain regions, emphasis is placed on the structure and function of critical PFC-limbic circuits, linking alterations in the processing of information across these pathways to the pathophysiology and psychopathology of various psychiatric illnesses.