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Studies exploring the effects of prenatal stress on the future child have been evolving over the last 40 years. Although initially limited to the perinatal period, recent research also explores the effects of prenatal stress on the child’s later cognitive and psycho-emotional development. On the cognitive level, results show that prenatal stress may have a negative impact on the intellectual, linguistic, and attentional abilities of the child. On the psycho-emotional level, prenatal stress is associated with a more difficult temperament and with a higher risk of child psychopathology. The timing of prenatal stress has a significant impact on the effects it may produce on the future child. These effects may also vary according to the fetus’ gender. Some physiological hypotheses and the notion of fetal programming may partially explain these results. However, other variables, such as social support or coping, may moderate the effects of prenatal stress on the woman and on child development. The purpose of this paper is to review recent literature exploring the effects of prenatal stress on the child’s cognitive and psycho-emotional development. It also looks at the possible links between prenatal stress and the emergence of certain psychiatric disorders, such as autism, schizophrenia, and depression.