New information acquired by our brain is stored in the form of two types of memories: short term memory (STM) and long term memory (LTM). Initially, Synaptic and Capture hypothesis has been proposed to describe the synaptic changes that occur during memory formation. However, recently Behavioral Tagging hypothesis was proposed that relies on the setting of a learning tag and the synthesis of plasticity related proteins (PRPs). Behavioral Tagging has its roots in Synaptic and Capture hypothesis. It seeks to explain that how a learning tag produced as a result of weak training can be paired up with PRPs (formed as a result of novelty) and can lead to long lasting memories. We have focused on describing behavioral paradigms that have been used for establishing the model of "Behavioral Tagging" and the molecules which qualify for potential PRP candidature.