Alzheimer’s disease (AD) is characterized by loss of memory and progressive impairments in cognitive functions and it is accompanied by a severe deficiency of the neurotransmitter acetylcholine (ACh) in the brain. This observation is the basis of the so-called “cholinergic hypothesis”, which serves as the rationale for the development of compounds able to enhance nicotinic cholinergic neurotransmission in the central nervous system. This effect can be reached through inhibition of acetylcholinesterase (AChE). However, clinical use of AChE inhibitors is sometimes limited mainly due to their adverse effects and modest benefits to AD patients. Therefore, novel, more effective therapies, including AChE inhibitors, need to be developed. In addition to its catalytic activity, AChE exerts secondary noncholinergic functions related to its peripheral binding site on differentiation, cell adhesion, in mediating the processing and deposition of β-amyloid peptide (Aβ). AChE binds through its peripheral site to the non amyloidogenic form of β-amyloid protein acting as a chaperone protein and inducing conformational change to the amyloidogenic form with the subsequent amyloid fibril formation. Moreover, it has been shown that molecules that are able to interact with both the active and peripheral sites of AChE could prevent the aggregating activity of AChE towards Aβ besides the inhibitory activity. Therefore, inhibitors with dual binding to AChE present a new therapeutic strategic option.