Hair loss is an infrequent side effect of Prozac^® (fluoxetine hydrochloride). Hair loss occurs in between 1 in 100 and 1 in 1,000 people who take Prozac. If you experience hair loss while taking Prozac, talk with your healthcare provider. Depending on how severe the hair loss is, there are things that he or she may be able to do. It is possible that if hair loss is bothersome to you, your doctor may recommend adjusting the Prozac dosage or trying another medicine for your condition.