Psychiatric disorders as a whole represents a major public health burden yet their etiologies remain poorly understood, and treatment advances have been limited. In addition, there are no reliable biomarkers for diagnosis or progress monitoring of psychiatric disorders.Here we performed a 'proteome-wide' causal association study covering 1569 plasma proteins and 23 psychiatric traits or disorders. We conducted Mendelian randomization (MR) analysis leveraging GWAS summary data of plasma protein measurements and psychiatric disorders. In total ~90000 MR tests were conducted. The analysis is bi-directional: we studied how proteins may affect psychiatric disorder risks, but also looked into how psychiatric disorders may be causal risk factors for changes in protein levels. We also performed a variety of additional analysis to prioritize protein-disease associations, including HEIDI test for distinguishing functional association from linkage, analysis restricted to cis-acting variants and replications in independent datasets. Identifying proteins causal to disease development have potential implications on drug discovery or repurposing. Findings from this study may also guide the development of blood-based biomarkers for the prediction or diagnosis of psychiatric disorders, as well as those for monitoring disease progression and recovery.