Short chain fatty acids (SCFA), the main metabolites produced by bacterial fermentation of dietary fibre in the colon, are speculated to play a key role in microbiota-gut-brain crosstalk. However, the pathways through which they may influence psychological functioning, including affective and cognitive processes and their neural basis, have not been fully elucidated. Furthermore, research directly exploring the role of SCFA as potential mediators of the impact of microbiota-targeted interventions on affective and cognitive functioning is sparse, especially in humans. The purpose of this review is to (a) summarise the existing knowledge on SCFA and their potential to mediate microbiota-gut-brain interactions directly or indirectly, (b) review the impact of microbiota-targeted interventions on psychological functioning and its neural basis, and the putative mediating role of SCFA signaling herein, (c) discuss the literature that examines the relationship between SCFA and psychobiological processes, and (d) outline future directions to facilitate direct investigation of the impact of SCFA on psychological functioning.