The pathogenesis of depression is complex and the treatment methods are limited, and it is of great significance to clarify its pathogenesis and develop new therapeutic drugs. Currently, hormones and hormone-modifying compounds have been used to treat depression, and their therapeutic effects are attributed not only to the regulation of the peripheral endocrine system, but also to the effects of hormones on the central nervous system of non-endocrine brain circuits. HPA/HPT/HPG is closely related to the pathogenesis of depression. The mechanism of action of traditional Chinese medicine in the treatment of depression is extensive, and the regulation of the three axes also presents a variety of ways. Based on the new evidence of hormones and hormone operon compounds involved in the pathology and treatment of depression, this paper summarizes the relevant mechanisms of current traditional Chinese medicine in the treatment of depression, in order to provide ideas and references for the research of traditional Chinese medicine.