This review centers on the synthetic strategies employed with indolyl‐ynones. Indolyl‐ynone, owing to its highly reactive ynone moiety, frequently partakes in dearomatizing spirocyclization reactions and subsequent rearrangment reactions when subjected to various reaction conditions. Hence, various heterocycles such as densly functionalized spiroindolenines, carbazoles, quinolines and carbo‐and hetero‐cycle substituted indoles are synthesized from indolyl‐ynones. In addition to this, the versatile spirocyclic indole scaffold exhibits the capability to produce tetracyclic and polyclic structures through intricate skeletal rearrangement processes. Moreover, the total synthesis of natural products using the indolyl‐ynone moiety was also compiled in this review.