This review overviews the advances in the chemistry of bismuth-containing heterocyclic compounds during the last decade. Some new types of bismuth-containing heterocyclic systems containing nitrogen, oxygen, sulfur and/or phosphorus in addition to bismuth have been synthesized. 5,6,7,12-Tetrahydrodibenz[c,f][1,5]azabismocine derivatives were the most extensively studied bismuthcontaining heterocyclic compounds during the last decade, and a number of new compounds were synthesized. Their application to organic synthesis has shown that they are useful as reagents for the cross-coupling reaction with organic halides and as Lewis acid catalysts. Also they were used for the fixation of CO2. Some pentavalent bismuth-containing heterocyclic compounds were found to be useful in organic synthesis. Biological activity of some of bismuth-containing heterocyclic compounds was studied and found to show antimicrobial, antibacterial, antifungal, and anticancer activities.