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This research paper deals with the issue of perinatal and postnatal depression and its effects on the fetus and on the newborn baby, respectively. The aim of the study is to analyze the psychological disorders, mainly during pregnancy and lactation, their impact on the child and their early diagnosis and treatment. A review of the international literature was conducted, mainly by being based on online sources and sources from the Faculty of Health & Caring of ATEI Thessaloniki, Greece. The literature selection was accomplished via various books, general articles, reviews and systematic studies. According to the latest data, researches and studies on perinatal and postnatal depression have indicated severe effects on women, fetuses and newborn babies. At the same time, health professionals need to be constantly informed and educated to act as behaviour and care models for the mother. In conclusion, midwives on the side of every woman, can help to provide psychological support in order effective treatment of perinatal and postnatal depression to be achieved.