Given the increased interest in phosphorus corroles for many applications, we now report how their photophysical variables and redox potentials may be tuned. This was performed by focusing on a series of derivatives that significantly differ in terms of the chelating corrole macrocycle: three C6F5 vs. three CF3 substituents on the meso‐C atoms, H vs. Br atoms on the β‐pyrrole positions, and monomeric vs. dimeric (through β‐pyrrole C−C bonds). Also studied was the effect of the phosphorus axial ligands, hydroxide vs. fluoride.