Phenazines and their derivatives are a class of heterocyclic compounds characterized by a five-membered aromatic ring fused to an azine (nitrogen-containing) ring. These compounds exhibit a diverse array of biological activities, including antioxidant properties, antimicrobial effects, and potential applications in the pharmaceutical industry. Phenazine derivatives have been extensively studied for their structural flexibility and ability to form various types of functional groups that can be utilized in medicinal chemistry. The chemical versatility of phenazines makes them valuable tools in organic synthesis as well. Notably, some derivatives show promising results in cancer research due to their photodynamic properties, which allow them to interact with biological systems at the molecular level. Their applications extend beyond pharmaceuticals into areas such as dye and pigment production, electronics, and sensors, owing to unique optical and electronic characteristics.