Prozac is the brand name. Fluoxetine is the generic name, and generic fluoxetine is now available. Prozac is a selective serotonin reuptake inhibitor (SSRI) used to treat depression.SSRI medications affect serotonin levels in the brain. For many people, these medications are the first choice for the treatment of depression. For information on SSRIs and how they work, see SSRIs and Depression.