Schisandra chinensis fruits have been traditionally used for thousands of years in Korea, China and Japan to treat various ailments. The fruits contain a variety of bioactive metabolites, especially lignan components have been reported to have various biological activities and have potential in the treatment of numerous neurodegenerative diseases. The lignans from S. chinensis are mainly grouped under dibenzocyclooctadiene lignans. Previous studies have reported that the crude extracts and the isolated pure lignan components effectively protect the neuronal cell damage and significantly enhance the cognitive performances. The experimental findings support the extracts and lignan components from S. chinensis can be used as new therapeutic agents to treat various neurodegenerative diseases. In the current review, we highlight the lignans from S. chinensis as promising resources for the development of natural and effective agents for neuroprotective and cognitive enhancement effects. The lignan extracts and individual compounds from S. chinensis were summarized in relation to their neuroprotective and cognitive enhancement activities.