Two relatively independent lines of research have addressed the role of the prefrontal cortex in emotional processing. The first examines hemispheric asymmetries in frontal function; the second focuses on prefrontal interactions between cognition and emotion. We briefly review each perspective and highlight inconsistencies between them. We go on to describe an alternative model that integrates approaches by focusing on hemispheric asymmetry in inhibitory executive control processes. The Asymmetric Inhibition Model proposes that right lateralized executive control inhibits processing of positive or approach-related distractors, and left-lateralized control inhibits negative or withdrawal-related distractors. These complementary processes allow us to maintain and achieve current goals in the face of emotional distraction. We conclude with a research agenda that uses the model to generate novel experiments that will advance our understanding of both hemispheric asymmetries and cognition-emotion interactions.