Bipolar Disorder (BD) is characterized by mood swings that cause significant impairment in social, occupational, or other areas of functioning. During the last years, new insights have been provided in the diagnosis, etiology, neurobiological basis and treatment of bipolar disorder. This paper emphasizes recent studies related to some diagnostic and therapeutic aspects during manic episode, hypomanic, mixed episode, bipolar depression and rapid cycling, in children, adolescents and adults. Studies using proposed mood stabilizers, which present adequate metodological basis, including double - blind, controlled studies and which presented a significant number of patients were included and critically evaluated in this revision. Drugs such as the lithium, anticonvulsants, antipsychotics, benzodiazepines, calcium channels blockers and thyroid augmentation are proposed to be effective in certain diagnostic profiles. The possible biological bases for these drugs therapeutic effects are also revised. In summary, this article focuses on recent and important psychopharmacological progresses on the treatment of BD subtypes. Furthermore, the revision presents possible biological basis to explain the therapeutic profile of these drugs.