Enzymes play a very vital role in maintaining the homeostasis inside the body. Improper functioning of enzymes is associated with many diseases. Insulin-degrading enzyme (IDE), a ubiquitously expressed zinc metalloprotease, is believed to act as a junction point of Type 2 Diabetes and Alzheimer's disease. Recent studies provide inkling for the use of IDE as a potential target hence the design of its regulators would be a viable approach towards treatment of these diseases. This review provides an overview of the IDE structure and function; a relationship is drawn between IDE, Type 2 Diabetes mellitus and Alzheimer's disease and the approaches that make IDE a potential target, are discussed.