In recent decades, mobile media and communication have become integral to human psychology, including how people think and feel. Although the popular press, parents, and educators often voice concerns about the integration of mobile media into everyday life (e.g., “smartphone addiction”), the growing body of scholarship in this area offers a mix of positive, negative, and conditional effects of mobile media use. This review article traverses this variegated scholarship by assembling cognitive and affective implications of mobile media and communication. It identifies information processing, offloading, spatial cognition, habit, attention, and phantom vibrations as cognitive themes, and feelings of pleasure, stress/anxiety, safety/security, connectedness, and control as affective themes. Along the way, it helps bring structure to this growing and interdisciplinary area of scholarship, ground psychological work on mobile media in theorizing on technological embedding, inform academic and public debates, and identify opportunities for future research.