The coordination compounds of the tridentate oligopyridine ligand 2,2′:6′,2′′‐terpyridine (tpy) are utilized in very different fields of research, such as materials science (e.g. photovoltaics), biomedicinal chemistry (e.g. DNA intercalation), and organometallic catalysis. Applications in the latter area have arisen from initial reports on electro‐ or photochemical processes and, today, a broad range of reactions—from artificial photosynthesis (water splitting) to biochemical and organic transformations as well as polymerization reactions—have been catalyzed by terpyridines and their transition metal complexes. In this review, the scope and the limitations of these applications, which emerged particularly in organic and macromolecular chemistry, will be evaluated.