Transition metal‐mediated catalytic reduction, oxidation, and hydrofunctionalization reactions are important organic reactions and are considered highly atom‐economical. Owing to their unique properties, selenium ligated several transition metals‐based complexes have been reported for several catalytic applications. This review presents the synthesis of various selenium‐supported transition metal complexes and their catalytic applications in reduction, oxidation, N‐alkylation of amines, and hydrofunctionalization reactions. Furthermore, we compare the catalytic activity of various organoselenium ligand‐containing transition metal complexes and the replacement of selenium with other chalcogen elements.