Compared with research on men’s sexual dysfunction, far less is known about the precise etiology of and effective treatments for sexual dysfunction in women. The lack of any pharmacologically approved treatment for women’s sexual complaints has been attributed, in part, to the complexity of psychosocial and interpersonal factors involved. The aim of this article is to review some of the major psychological aspects of women’s sexual dysfunction, focusing on the role of Axis I and Axis II disorders, individual vulnerability factors and interpersonal influences. Implications for treatment, where relevant, are discussed throughout.