The COVID-19 pandemic is one the biggest challenges the global community has faced this century. The threat of the virus coupled with the impacts of the social and economic shut-down measures required to slow its spread, appear to be impacting on people's mental health and wellbeing. Over the weeks, months and years ahead it is likely that many countries will experience a 'wave' of COVID-19 related mental disorders as a result of an increase in risk factors linked to the pandemic such as social isolation; unemployment; housing and income stress; intimate partner violence; work-related trauma; and grief and loss. The 'two-pronged' approach used to deal with COVID-19, provides an excellent blueprint for managing its mental health impacts as well. Nations must focus on preventing the occurrence of new-onset cases of mental disorders as well as strengthening their mental healthcare response to support people who become mentally unwell. A focus on primary prevention is particularly important to 'flatten the curve' and avoid a surge in incidence of mental disorders stemming from the COVID-19 pandemic. Evidence-based interventions designed to prevent common disorders are already available and should be scaled-up. These interventions include parenting programs, social and emotional learning programs, self-care strategies, and workplace mental wellbeing programs, among others.