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Objectives. The objective of this article was to present information concerning mechanisms of action, pharmacokinetics, clinical efficacy and tolerance of newly approved antipsychotic medication – lurasidone, brexpiprazole, cariprazine, lumateperone and pimavanserin – and to compare them with previously available ones. Literature review. We reviewed data from preclinical and clinical trials, literature reviews and meta-analyses concerning newly approved antipsychotic medication. We summarised information about pharmacodynamic effects, pharmacokinetics, clinical efficacy and tolerance of described medications. Conclusions. Newly approved antipsychotic medication seem to give hope of improvement of treatment efficacy, especially with regards to negative, cognitive and depressive symptoms of schizophrenia. They also seem to be better tolerated than previously available antipsychotics.