Delay discounting (DD) refers to the choice particularly influenced by the degree of immediacy with which a reward is delivered, presenting a reduction in the preference for the reward when there is delay in its delivery.DD relates positively to impulsivity and is present in patients with various types of addictions and other disorders involving impulsivity. This article aims at presenting DD and its relation to addiction based on a review of studies that examined this relationship and the applicability of the results as a measure of impulsivity. The studies showed that devaluation is associated in a significant way to substance use and revealed that their evaluation can be important information in the process of decision making on substance use. Intervention strategies are also presented to control and change DD.