A central issue in reinforcement learning (RL) is the ‘curse-of-dimensionality’, arising when the degrees-of-freedom are much larger than the number of training samples. In such circumstances, the learning process becomes too slow to be plausible. In the brain, higher cognitive functions (such as abstraction or metacognition) may be part of the solution by generating low dimensional representations on which RL can operate. In this talk I will discuss a series of studies in which we used functional magnetic resonance imaging (fMRI) and computational modeling to investigate the neuro-computational basis of efficient RL. We found that people can learn remarkably complex task structures non-consciously, but also that - intriguingly - metacognition appears tightly coupled to this learning ability. Furthermore, when people use an explicit (conscious) policy to select relevant information, learning is accelerated by abstractions. At the neural level, prefrontal cortex subregions are differentially involved in separate aspects of learning: dorsolateral prefrontal cortex pairs with metacognitive processes, while ventromedial prefrontal cortex with valuation and abstraction. I will discuss the implications of these findings, in particular new questions on the function of metacognition in adaptive behavior and the link with abstraction.