Compounds with triazepine skeletons have attracted much attention as a result of their interesting biological properties. Triazepandiones represent a particular subset that includes sixteen possible functional isomers, of which nine have been reported in the literature and patents. A survey of the literature indicates that intramolecular cyclization reactions and transformation of other heterocyclic systems are the two main synthetic approaches employed to prepare triazepandiones. This review covers both synthetic methods and applications of compounds with triazepandione skeletons.