Schizophrenia is a chronic mental disease with a high disability rate. Several hypotheses, including dopamine hypothesis, disconnection hypothesis, neurodevelopmental disorder hypothesis, and oxidative stress hypothesis, have been proposed to explain its pathogenesis. Neural stem cells have the potential of differentiation and repair of central damage and are widely distributed in multiple brain regions of the central nervous system. Related studies have shown that schizophrenia is related to the abnormality of embryonic neural stem cells and neurogenesis. The early development of the brain is susceptible to interference from multiple genes and environments, and most people with schizophrenia have more psychotic symptoms than those that they had in late adolescence or early adulthood. Antipsychotic medications are the main clinical treatment for mental illness, but they inevitably have some drawbacks. According to the dopamine hypothesis, the ventral hippocampus plays a key role in the treatment of schizophrenia, acting as a "common pathway" for each hypothesis. With the help of induced pluripotent stem cells, the schizophrenia disease model has been established, and the research on its pathogenesis has made progress. Neural stem cells play an important role in embryonic development and repair of the damaged nervous system, and they have a significant advantage over traditional treatment methods in the treatment of schizophrenia, which provides a new idea for the treatment of schizophrenia.