Diazaphospholenes have recently emerged as main-group hydride transfer catalysts. This review will briefly summarize the common structural variants of diazaphospholenes, and the properties that make them superb hydride transfer catalysts, followed by a critical examination of the various preparative routes toward diazaphospholenes. Finally, an in-depth examination of the reactivity of diazaphospholenes in contemporary catalysis, including asymmetric catalysis will be undertaken.