MicroRNAs (miRs) have emerged as a powerful class of endogenous noncoding RNAs involved in posttranscriptional gene expression regulation. miR-137 has repeatedly been associated with schizophrenia and intellectual disability. Recent studies describe the mechanisms of miR-137 in mediating basic synaptic transmission and plasticity in the hippocampus. A picture is emerging in which miR-137 acts as a potent player in regulating glutamatergic synaptic transmission in the hippocampus by controlling the translation of functionally critical genes at spatially opposite ends of the synapse, contributing to the pathogenesis of cognitive impairments as seen in neurodevelopmental disorders.