This chapter briefly describes the development, structure–activity relationships, and mechanism of action for the important psychostimulants such as amphetamines, methylphenidate, and cocaine. Derived from natural products known for centuries, at low doses these drugs lead to increased arousal, improved performance on tasks of vigilance and alertness, and a sense of self‐confidence and well being. High doses can produce feelings of elation or euphoria, and result in profound abuse liability. This chapter reviews the current and future use of psychostimulants, as well as other drugs that cause CNS arousal, albeit by different mechanisms.