Luminescence phenomena are highly sensitive to microenvironment. Consequently, supramolecular processes may induce remarkable changes in the emission character of the interacting molecular species. These changes could be useful in designing functional luminophores, such as luminescent molecular sensors for ions and neutral molecules, or just for probing supramolecular interactions. In this chapter, the photophysical processes, such as internal charge transfer (ICT), excitation energy transfer, and photoinduced electron transfer (PeT), are presented, since they are modulated by supramolecular interactions.