Elamipretide, also known as SS-31, is a mitochondria-targeting peptide that has garnered attention for its potential therapeutic applications in various diseases associated with mitochondrial dysfunction. Researchers primarily study it for its ability to mitigate oxidative stress and improve mitochondrial function in conditions such as neurodegenerative disorders, cardiovascular diseases, and renal diseases. Key findings from recent studies indicate that SS-31 can enhance cognitive performance in models of inflammatory-induced memory impairment and alleviate myocardial injury by suppressing ferroptosis in cardiomyocytes. Furthermore, preclinical evidence suggests that SS-31 stabilizes mitochondrial structure and function, thereby reducing oxidative damage and promoting cellular health. Current research continues to explore its efficacy and safety across a range of conditions, highlighting its promise as a novel therapeutic agent.