Organochalcogen compounds have been used as the building blocks for the development of a variety of catalysts that have been studied comprehensively during the last two decades for several chemical transformations. Transfer hydrogenation (reduction of carbonyl compounds to alcohols) and oxidation of alcohols (conversion of alcohols to their respective ketones and aldehydes) are also among such chemical transformations. Some compilations are available in the literature on the development of catalysts, based on organochalcogen ligands, and their applications in Heck reaction, Suzuki reaction, and other related aspects. Some review articles have also been published on different aspects of oxidation of alcohols and transfer hydrogenation. However, no such article is available in the literature on the syntheses and use of organochalcogen ligated catalysts for these two reactions. In this perspective, a survey of developments pertaining to the synthetic aspects of such organochalcogen (S/Se/Te) based catalysts for the two reactions has been made. In addition to covering the syntheses of chalcogen ligands, their metal complexes and nanoparticles (NPs), emphasis has also been placed on the efficient conversion of different substrates during catalytic reactions, diversity in catalytic potential and mechanistic aspects of catalysis. It also includes the analysis of comparison (in terms of efficiency) between this unique class of catalysts and efficient catalysts without a chalcogen donor. The future scope of this area has also been highlighted.