<p>The 5-HT₇ receptor, one of the most recently discovered members of the serotonin receptor family, plays a pivotal role in regulating central nervous system processes. Over the past three decades, substantial research has provided insights into its gene, expression patterns, molecular structure, and pharmacological properties. The 5-HT₇ receptor is involved in thermoregulation, sleep, circadian rhythms, and mood regulation, attracting increasing attention as a promising target for the treatment of depressive disorders, Alzheimer’s disease, and Parkinson’s disease. In this review, based on a systematic analysis of publications in 1993-2024, with a predominant focus on studies from the last decade in PubMed, Scopus and Web of Science databases, we provide an in-depth discussion of the functional characteristics of the 5-HT₇ receptor, its pharmacological profile, and current models and molecular interactions that enhance our understanding of its unique role in neurophysiological regulation. Special attention is given to the therapeutic potential of the 5-HT₇ receptor in neuropsychiatric and neurodegenerative diseases.</p>