The unique properties of natural tetrapyrrolic compounds have inspired the rapid growth of research interest in the design and synthesis of artificial porphyrinoids and their metal complexes as a basis of modern functional materials. A special role in the design of such materials is played by sandwich complexes formed by tetrapyrrolic macrocycles with rare earth elements, especially lanthanides. The development of synthetic approaches to the functionalization of tetrapyrrolic compounds and their rare earth complexes has facilitated the intensive development of new applications over the last decade. As a way of expanding the functionalities of rare earth complexes, sophisticated examples have been obtained, including mixed-ligand complexes, π-extended analogues, covalently linked and fused sandwiches, complexes with less-common tetrapyrrols, sandwiches with non-tetrapyrrolic macrocycles and even complexes containing up to six stacked ligands. This review intends to offer a general overview of the preparation of such sophisticated REE tetrapyrrolic sandwiches over the last decade as well as emphasizes the current challenges and perspectives of their application in areas such as single-molecule magnetism (SMM), organic field-effect transistors (OFET), conductive materials and nonlinear optics (NLO).