Diboron compounds with a BÀ B bond, discovered with B 2 Cl 4 a century ago, have been developed only since the turn of this century for catalyzed borylation reactions, mostly with the wellknow reagent bis(binacolato)diboron, (B 2 pin 2 ). On the other hand, chemistry of tetrahydroxydiboron (THDB), also named bis-boric acid, is relatively underdeveloped. In this review, the properties of THDB as a borylation, reductant (including transfer hydrogenation), catalyst, source of radicals and generator of H 2 from water upon hydrolysis are summarized.