The persistence of pathological memory is the basis of several psychiatric disorders. Memory retrieval induces “reconsolidation”, a time interval during which the original memory becomes labile and destabilized. Time- and retrieval-dependent processes and memory reconsolidation are critical periods for memory interference. Modulating memory reconsolidation has received considerable research attention as a treatment protocol for several psychiatric conditions such as posttraumatic stress disorder, addiction, anxiety, and trauma-related disorders. This specific time window provides an opportunity for intervention regarding mental diseases. This article reviews the effect of modulating memory reconsolidation using behavioral-, brain stimulation-, and pharmacological-based interventions, the potential advantages, limitations, challenges, and opportunities for memory reconsolidation manipulations were discussed, which may help bridge the gap between intervention in laboratories and application in clinical practice.