This review covers rearrangements of cyclopropenes into aromatic five-membered heterocyclic compounds, namely furans and pyrroles; accompanied by small ring cleavage proceeding in the presence of catalytic amounts of transition metals, Lewis acids, or under UV irradiation. Due to significant strain in the small ring, cyclopropenes are characterized by increased energy and a conformationally constrained hydrocarbon skeleton, which chiefly defines their unusually high reactivity and selectivity in reactions atypical for other unsaturated compounds. The increased electronic density of the π-system of its strained double bond makes cyclopropene a very attractive substrate for π-philic transition metals [1]]. In turn, this opens avenues for extremely rich coordination chemistry for different types of catalytic rearrangements, as well as for addition and cycloaddition reactions. The important role of small cycles in the photochemistry of furans was first demonstrated in reports by Srinivason [2, 3] and van Tamelen [4,5], who discovered that the photo-rearrangement of 2-methylfurans 1 into 3-methylfurans 2 proceeds via a valent rearrangement forming 3-acylcyclopropene intermediate 3 (Scheme 1). In addition, in the reaction of furan 1а a competing photodecarbonylation leading to product 4 was detected, which confirmed the formation of intermediate 3-formylcyclopropene 3а (Scheme 1).Scheme 1