Bipolar disorder is psychological illness with periodic episodes of mania and depression. Schizophrenia is a complex mental disorder identified by delusions, hallucinations, disorganized behavior, impaired cognitive ability, disorganized speech and sudden change in personality. In both the diseases quetiapine fumarate (QF) drug is worth important in today’s scenario. This review gives complete QF drug profile along with mechanism of action. Quetiapine alone is successful for acute bipolar depression and the prevention of mania/hypomania switching. Literature survey section of this review gives information about quetiapine in different dosage form. By this review one can explore the scale up of quetiapine fumarate not only with immediate release and sustained release dosage form but also with novel drug delivery system like solid lipid nanoparticle and nanostructured lipid carrier.