Chiral tertiary phosphines are versatile Lewis base catalysts capable of promoting a wide range of asymmetric reactions. In particular, the recent designed chiral phosphines based on the concept of bi-/multifunctionality have been demonstrated to be effective catalysts for many types of asymmetric reactions such as (aza)-MBH reaction/RC reaction, cycloaddition reaction, domino reaction, nucleophilic addition reaction, etc. This review summarizes the recent advances in this field and highlights the selected significant achievements. Dr. Yin Wei (left) received her PhD from Ludwig-Maximilians-Universität in München (Germany) in 2009 under the direction of Professor Hendrik Zipse. Subsequently, she joined in Professor Min Shi's group at Shanghai Institute of Organic Chemistry, Chinese Academy of Sciences (SIOC, CAS), and was promoted as an associate professor in 2012. She has authored over 100 scientific publications, and she is mainly working on the theoretical studies of organocatalysis.