Memory is an important element of cognition and plays a crucial role in the daily routine of an individual. Impairment in memory may occur due to aging or due to neurological disorders such as stroke, dementia, traumatic brain injury and so on. Neurofeedback training is a technological advancement in the field of neuropsychological rehabilitation. It is a non-invasive technique that aims at resolving issues in the neural networks of the brain instead of repressing them. It is based on the concept of training one’s brain to control the different brain waves and involves strengthening as well as suppression of certain frequencies of brain waves. Neurofeedback training has found a major application in remediation of cognitive deficits as well as enhancement of memory functions. This aim of this paper is to briefly review the potential and the duality of the therapeutic role played by neurofeedback training in remediation of memory deficits and enhancement of memory in normal individuals of any age group. It is an approach that needs serious consideration and wide acceptance in the field of neuropsychological rehabilitation as well as in enhancement of memory.