Drug discovery is a time-consuming, expensive, and high-risk endeavor, often plagued by high failure rates due to unforeseen drug-target interactions (DTIs) or off-target effects. Accurately predicting these interactions in silico early in the drug development pipeline is critical for accelerating lead identification, optimizing drug efficacy, and minimizing adverse reactions. Traditional computational methods, while valuable, face limitations in handling the vast complexity and heterogeneity of chemical and biological data. This article explores the transformative role of deep learning in revolutionizing DTI prediction. We delve into various deep neural network architectures, including Convolutional Neural Networks (CNNs), Recurrent Neural Networks (RNNs) and Long Short-Term Memory (LSTMs), Graph Neural Networks (GNNs), and Autoencoders, showcasing their strengths in learning complex, hierarchical features from diverse drug and target representations. The paper elaborates on advanced methodologies for data preprocessing, representation learning for both small molecules and proteins, and effective fusion strategies for multi-modal data. Furthermore, we discuss the crucial role of transfer learning in overcoming data scarcity and enhancing model generalizability to novel compounds and targets. A comprehensive review of evaluation metrics tailored for DTI prediction is also provided. The discussion highlights the significant advantages of deep learning models over conventional approaches, their current challenges such as interpretability and rigorous experimental validation, and outlines promising future directions for developing more robust, interpretable, and broadly applicable DTI prediction models, ultimately paving the way for more efficient and successful drug discovery.