Background/Objectives: With breast cancer (BC) survival improving due to optimized therapy, enhancing quality of life has become increasingly important. Both diagnosis and treatment, with their potential side effects, pose risks to mental well-being. Our study aimed to analyze the incidence and potential risk factors for mental disorders in BC patients. Methods: This retrospective analysis used claims data from AOK Baden-Wuerttemberg, including 11,553 BC patients diagnosed via ICD code C50 between 2010 and 2020 and 31,944 age-matched controls. Patients with mental disorders in the 12 months prior to diagnosis were excluded. Mental disorders were categorized into eight groups based on ICD codes: anxiety, obsessive-compulsive disorder, adjustment disorder, dissociative disorder, hypochondriac disorder, affective disorder, mania, and other neuroses. Results: Mental disorders were significantly more common in BC patients than in controls (64.2% vs. 38.1%, p<0.01, OR 2.91). In particular, hypochondriac, anxiety, affective, and adjustment disorders occurred significantly more often in BC patients. No differences were found for mania, bipolar disease, other neuroses, obsessive-compulsive- and dissociative disorder. Furthermore, endocrine therapy was associated with psychological comorbidities (OR 1.69, p<0.001), while primarily metastasized patients (Stage C) had a lower risk than adjuvant patients in stage A (OR 0.55, p<0.0001). Regarding surgical treatment, mastectomy patients showed lower rates of mental illnesses (61.2%) than those with breast-conserving treatment (71.6%) or especially breast reconstruction (78.4%, p<0.01). Breast reconstruction was also associated with more hypochondriac (p<0.01) and adjustment disorders (p<0.01). Conclusions: So, BC patients experience significantly more mental disorders than controls, particularly, when treated with endocrine therapy and breast reconstructive surgery.