Last decade has seen a tremendous applications of bismuth(III) trifluoromethanesulfonate [Bi(OTf)3] as an efficient, cheap, environmentally benign, Lewis acidic catalyst for the various organic transformations. On the other hand heterocycles are very common in naturally occurring compounds and are the privileged structural subunit of many marketed drug molecules. The present review summarizes the applications of bismuth(III) triflate as a catalyst for the synthesis of diverse biologically relevant heterocycles reported so far.