Neuropsychiatric symptoms (NPS), such as psychosis, depression and anxiety are frequently observed among patients with dementia. NPS is treated by off-label psychotropic medications that are only modestly effective in dementia patients, with a high risk of adverse events and cognitive decline. Considering the above, there is an unmet need for a well-tolerated and effective therapy of NPS in dementia. We designed and synthesized a library of dual-acting compounds as phosphodiesterase type-10A inhibitors and serotonin 5-HT<sub>1A</sub>R ligands. The most potent molecules, compounds 4 and 8, as partial agonists of 5-HT<sub>1A</sub>R and PDE10A inhibitors, exhibited a very high permeability of the blood-brain barrier. Compounds 4 and 8 displayed antipsychotic- and antidepressant-like activity and restored recognition memory deficits in mice. The overall effectiveness, pharmacokinetic and bioavailability studies imply the therapeutic-like potential of the presented dual-acting compounds as a method of treatment of NPS in dementia.