As the COVID‐19 pandemic persists, SARS‐CoV‐2 infection is increasingly associated with long‐term neurological side effects including cognitive impairment, fatigue, depression, and anxiety, colloquially known as “long‐COVID.” While the full extent of long‐COVID neuropathology across years or even decades is not yet known, we can perhaps take direction from long‐standing research into other respiratory diseases, such as influenza, that can present with similar long‐term neurological consequences. In this review, we highlight commonalities in the neurological impacts of influenza and COVID‐19. We first focus on the common potential mechanisms underlying neurological sequelae of long‐COVID and influenza, namely (1) viral neurotropism and (2) dysregulated peripheral inflammation. The latter, namely heightened peripheral inflammation leading to central nervous system dysfunction, is emerging as a shared mechanism in various peripheral inflammatory or inflammation‐associated diseases and conditions. We then discuss historical and modern examples of influenza‐ and COVID‐19‐associated cognitive impairment, depression, anxiety, and fatigue, revealing key similarities in their neurological sequelae. Although we are learning that the effects of influenza and COVID differ somewhat in terms of their influence on the brain, as the impacts of long‐COVID grow, such comparisons will likely prove valuable in guiding ongoing research into long‐COVID, and perhaps foreshadow what could be in store for individuals with COVID‐19 and their brain health.