Biscarbonylmethylenetriphenylphosphoranes are versatile compounds derived from stabilized α-carbonylmethylenetriphenylphosphoranes, mainly prepared by transylidation or by analogue methodologies; other procedures include electrochemical oxidation, palladium-catalized insertions and displacements reactions with tellurol esters, as well as the use of Bestmann’s ylide with different reagents and reaction conditions. These biscarbonylmethylenetriphenylphosphoranes are usually converted into acetylenes by thermal treatments. Biscarbonylmethylenetriphenylphosphoranes and their oxidation products -vicinal tricarbonyl compounds- are of high importance due to their use as synthons of more complex molecules and their promising biological activity.