In this review article, we summarize our recent progress in rational structure modification and spectroscopic studies of artificial porphyrinoids. Structural modifications, including meso aryl substitution, peripheral aromatic ring fusion, ring contraction and expansion, and core modification with heterocyclic subunits other than pyrrole, perturb the electronic structures and aromaticity of porphyrinoids, thus regulating their electronic properties. The relationship between structure and spectroscopic properties as well as the applications of these porphyrinoids are also reviewed.