The aim of this study was to investigate the neurotrophic effects of the mystixin-7 mini-peptide (MTX, a synthetic corticotrophin-releasing-factor-like peptide-like peptide) using a slice-based system. The technique on-line monitoring of electrophysiological parameters (excitatory glutamatergic AMPAR-, NMDAR-dependent and inhibitory GABAB-ergic postsynaptic mechanisms) in the olfactory cortex slices of the rat brain exposed to varied amounts of MTX was used. MTX in a dose-dependent manner inhibited both the AMPAR- and NMDAR-mediated postsynaptic processes. The peptide caused depression of inhibitory GABAB-ergic processes only at low doses of MTX (10, 25, 50 mg/mL) while at higher doses (100, 250 mg/mL) it enhanced them. These effects of MTX were reversible. AMPA-dependent (but not NMDA-mediated mechanisms) and inhibitory processes were restored after washing. Triple reperfusion of slices with MTX (100 mg/mL) accelerated the inhibitory processes and induced NMDAR desensitization. MTX evoked the long-term depression on θ burst stimulation of the slices. This study did not only lead to the conclusion that the functions of the MTX mini-peptide is not limited to anti-inflammatory effects, but also is included modifications of excitatory glutamatergic AMPAR-, NMDAR-dependent and inhibitory GABAB-ergic postsynaptic mechanisms.