Sleep apnea, a common yet serious sleep disorder, leads to repeated episodes of airway obstruction during sleep, causing reduced oxygen intake and significant sleep disruption. Traditional treatments such as Positive Airway Pressure (PAP) devices, oral appliances, and surgical interventions are well-established; however, pharmacological treatments are gaining increasing attention. This review explores current and emerging pharmacological therapies for sleep apnea, including respiratory stimulants, serotonergic agents, opioid antagonists, and sedative-hypnotics. Respiratory stimulants such as theophylline, acetazolamide, and doxapram aim to enhance neural drive to upper airway muscles, while serotonergic agents like SSRIs and SNRIs modulate serotonin to improve respiratory control. Opioid antagonists counteract respiratory-depressant effects, and sedative-hypnotics may promote sleep despite their controversial role in respiratory function.