Abstract: This review is devoted to the problems of the common features linking metabolic disorders and type 2 diabetes with the development of Alzheimer’s disease. The pathogenesis of Alzheimer’s disease closely intersects with the mechanisms of type 2 diabetes development, and an important risk factor for both pathologies is aging. Common pathological mechanisms include both factors in the development of oxidative stress, neuroinflammation, insulin resistance, and amyloidosis, as well as impaired mitochondrial dysfunctions and increasing cell death. The currently available drugs for the treatment of type 2 diabetes and Alzheimer’s disease have limited therapeutic efficacy. It is important to note that drugs used to treat Alzheimer’s disease, in particular acetylcholinesterase inhibitors, show a positive therapeutic potential in the treatment of type 2 diabetes, while drugs used in the treatment of type 2 diabetes can also prevent a number of pathologies characteristic for Alzheimer’s disease. A promising direction in the search for a strategy for the treatment of type 2 diabetes and Alzheimer’s disease may be the creation of complex multi-target drugs that have neuroprotective potential and affect specific common targets for type 2 diabetes and Alzheimer’s disease.