(Cyclopentadienone)iron tricarbonyl complexes are catalytically active, inexpensive, easily accessible and air-stable that are extensively studied as an active pre-catalyst in homogeneous catalysis. Its versatile catalytic activity arises exclusively due to the presence of a non-innocent ligand, which can trigger its unique redox properties effectively. These complexes have been employed widely in (transfer)hydrogenation (e. g., reduction of polar multiple bonds, Oppenauer-type oxidation of alcohols), C−C and C−N bond formation (e. g., reductive aminations, α-alkylation of ketones) and other synthetic transformations. In this review, we discuss the remarkable advancement of its various synthetic applications along with synthesis and mechanistic studies, until February 2021. © 2021 Wiley-VCH GmbH