Adenylyl cyclases (ACs) are enzymes that catalyze the production of cyclic adenosine monophosphate (cAMP) from adenosine triphosphate (ATP). Humans express nine isoforms of membranous ACs and a soluble AC. Studies with genetic knockout or overexpression rodent models have indicated that AC isoforms may be targeted to achieve specific therapeutic outcomes. AC1, for instance, has been suggested and pursued as a target for relieving pain. Notably, previous studies examining genetically modified mice as well as human genetic polymorphisms have suggested a link between AC7 activity and depressive disorders. In the present review we present an overview on AC function and discuss the most recent developments to target AC isoforms for drug therapies. We next focus on discussing the available literature on the molecular and animal pharmacology of AC7 highlighting the available studies on the role of AC7 in depressive disorders. In addition, we discuss other possible physiological functions of AC7 relating to ethanol effects and the immune system and conclude with considerations about pharmacological modulation of AC7.