The incorporation of additional electron donors or acceptors into the backbones of conjugated polymers with alternating donors and acceptors results in various conjugated D-A terpolymers. The presence of additional electron donors or acceptors in the conjugated backbones can modulate the electronic absorptions and highest occupied molecular orbital/lowest unoccupied molecular orbital levels, as well as interchain interactions and thin-film morphology. Because of these structural features, conjugated D-A terpolymers have been intensively investigated in recent years for applications in field-effect transistors and photovoltaic cells. In this review, we introduce the recent developments of conjugated D-A terpolymers with various combinations of electron donors and acceptors, and discuss the future perspectives for conjugated terpolymers. In recent decades, conjugated polymers have demonstrated promising applications in flexible, large-area and low-cost electronic devices, such as organic field-effect transistors (OFETs) 1-3 and solar cells (OSCs). [4][5][6][7] This is attributed to the conjugated electronic and polymeric structures of these polymers, resulting in semiconducting properties with good solution processability, mechanical property and thermal stability. 8,9 Among the conjugated polymers, conjugated alternating polymers consisting of both electron donors (D) and electron acceptors (A), referred to as conjugated D-A polymers, [10][11][12][13][14][15][16][17] have been extensively investigated in recent years. The studies indicate that electronic absorptions, highest occupied molecular orbital/lowest unoccupied molecular orbital (HOMO/LUMO) energies (and bandgaps), interchain interactions and thin-film morphologies of conjugated D-A polymers can be effectively tuned 10-17 by properly varying the electron donors and acceptors as well as the linkers. Consequently, the semiconducting performance of conjugated D-A polymers can be tuned in this way. In fact, polymeric p-type, n-type and even ambipolar semiconductors with high charge mobilities have been developed on the basis of conjugated D-A polymers. 18-21 Moreover, conjugated D-A polymers have been successfully utilized as either electron donors or acceptors for OSCs with high power conversion efficiencies (PCEs). [22][23][24][25] Apart from conjugated polymers with alternating electron donor and acceptor moieties, conjugated D-A terpolymers, which contain either one kind of acceptor/two types of electron donors (2D1A) or one kind of donor/two types of electron acceptors (1D2A) in the backbones as illustrated in Scheme 1, have received increased attention. It is expected that an additional dimension is generated for tuning the electronic structures of conjugated polymers and thus their absorptions and HOMO/LUMO levels as well as interchain packing 8,26 with such conjugated D-A terpolymers. Moreover, the combination of existing electron donors and acceptors can yield a huge number of terpolymers, which can be prepared in the same manner as conventional D-A ...