Schizophrenia is a chronic devastating psychiatric disease characterized by a high recurrence rate. Pharmacological management of this disorder appears disappointing since it is associated with a lack of efficacy for negative symptoms and cognitive deficits, typical features of schizophrenia, and the presence of severe undesired side effects. Thus, novel molecules with high efficacy and low toxicity for the treatment of schizophrenia are urgently needed. The involvement of the gaseous molecule nitric oxide in the pathogenesis of schizophrenia is well documented since low concentrations of nitric oxide are associated with this psychiatric disease. Therefore, chemicals able to normalize nitric oxide levels, such as nitric oxide donors, might be useful for the management of this type of schizophrenia. Molsidomine is a nitric oxide donor and is under investigation as a novel antischizophrenia agent. The aim of this review is to critically evaluate the potential efficacy of this molecule for the treatment of schizophrenia.