Neurodegenerative diseases (NDDs), which contribute to progressive and irreversible impairments of both the structure and function of the nervous system, pose a substantial socioeconomic burden on society. Mitochondrial dysfunction, oxidative stress, membrane damage, DNA damage, and abnormal protein degradation pathways play pivotal roles in the etiology of NDDs. Recently, growing evidence has demonstrated that caveolins are important in the pathology of NDDs due to their cellular functions in signal transduction, endocytosis, transcytosis, cholesterol transport, and lipid homeostasis. Given the significance of caveolins, here we review the literature to clarify their molecular mechanisms and roles in NDDs. We first briefly introduce the general background on caveolins. Next, we focus on the various important functions of caveolins in the brain. Finally, we emphasize recent progress regarding caveolins, especially Cav-1, which exert both benefit and unfavorable effects in NDDs such as AD and PD. Collectively, the data presented here should advance the investigation of caveolins for the future development of innovative strategies for the treatment of NDDs.