The discovery that the addictive drugs impair neurogenesis in the adult hippocampus has prompted the elaboration of new biological hypotheses to explain addiction and drug-induced cognitive dysfunction. Considerable evidence now implicates the process of adult neurogenesis in at least some critical components of hippocampal-dependent memory function. In experimental models, psychomotor stimulant drugs produce alterations in the rate of birth, survival, maturation and functional integration of adult-born hippocampal neurons. Thus some of the deleterious consequences of drug abuse on memory could result from the neurotoxic actions of drugs on adult hippocampal neurogenesis. In this review, we will first summarize preclinical and clinical literature on the disruptive effects of drugs such as cocaine and ecstasy in the areas of learning, memory and attention. We will also summarize data that document the widespread effects of stimulant drugs on progenitor activity and precursor incorporation in the adult dentate gyrus. Finally, we will examine evidence that supports the involvement of hippocampal neurogenesis in specific aspects of learning and memory function and we will consider critically the hypothesis that some of the negative consequences of drug abuse on cognition might be ascribed to deficits in adult hippocampal neurogenesis. Evidence suggests that stimulant abuse impacts negatively on at least four areas of memory/cognitive function that may be influenced by adult hippocampal neurogenesis: contextual memory, spatial memory, working memory and cognitive flexibility.