Organic fluorophores with dynamic conformations in the excited state have played a significant role in applications of organic functional dyes. Among them, dihydrophenazine-based dynamic fluorophores involving a photoinduced structural planarization process in the excited state exhibited large Stokes shifts and conformation-dependent multicolor emissions. With the developments of synthetic strategies, precise modifications on dihydrophenazinebased scaffolds have successfully afforded a variety of precise molecular structures of varying sizes and compositions, which have delicately modulated their photophysical properties. Herein, this Perspective summarizes the precise modulations of dihydrophenazine-based dynamic fluorophores, including the development of the synthetic methodologies, and tailor-made molecular models to reveal the luminescence−structure relationships. Insights about the future molecular design and applications are also presented.