In this paper there is a revision of the classification and prevalence of mood disorders, with the emphasis on the higher rates of prevalence of Bipolar Disorders in recent studies. The clinical phenomenology is updated with some discussion of the misunderstood classification and inconsistent diagnosis and treatment worldwide. The managements in psychiatry generally and in Bipolar disorder in particular has been discussed. The pharmacotherapy of Bipolar Disorder is reviewed. Lithium, novel antipsychotics and the management of acute mania or mixed episodes as well as acute depression and rapid cycling also maintenance treatment is clarified, without forgetting the importance of psychosocial intervention. The conclusion calls for more research in the field.