The present review focuses on dibenzo[b,f]oxepin‐10(11H)‐one (I, X = O) and dibenzo[b,f]thiepin‐10(11H)‐one (I, X = S) as common synthons in the efficient synthesis of various dibenzoxepino[4,5‐ and dibenzothiepino[4,5]‐fused five‐membered heterocycles: [2,3] fused thiophene (II), [3,4] fused thiophene (III), furan (IV), pyrrole (V), imidazole (VI), pyrazole (VII), oxazole (VIII), and thiazole (IX). The potential of I to be converted into reactive intermediates that readily undergo heteroaromatic annulation reactions by cyclocondensation with proper binucleophiles allows formation of a range of enumerated functionalized dibenzo[e,h]azulene [4] structures (II, III, IV, V, VI, VII, VIII, IX). Dibenzo[e,h]azulenes as heterotetracyclic scaffold can be exploited in further modifications to obtain compounds with altered physicochemical and biological profile. J. Heterocyclic Chem., (2012).