Obesity is a global health issue that significantly affects quality of life and increases the risk of developing type 2 diabetes, heart disease, osteoporosis, reproductive disorders, and certain cancers. While weight loss is crucial, relying solely on diet and exercise may not be sufficient. An emerging strategy involves repurposing (also called drug repositioning) existing drugs—initially developed for other medical conditions—for weight management. The U.S. Food and Drug Administration (FDA) has approved a number of medications for long-term use in weight management. Originally developed for the treatment of type 2 diabetes, these medications have proven effective in facilitating weight loss in obese patients. The efficacy of liraglutide, semaglutide, and tirzepatide underscores the potential of repurposed medications in addressing obesity—a complex, multifactorial condition. This review aims to discuss the importance of balancing lifestyle modifications and to highlight the significance and benefits of approved medications for obesity control. By examining the mechanisms, efficacy, and safety of these drugs, we aim to enhance the understanding of their role in obesity management and their ability to improve the quality of life for those affected by obesity.