Phenolic compounds are ubiquitous in nature because of their unique physical and chemical properties and wide applications, which have received extensive research attention. Phenolic compounds represented by tannic acid (TA) play an important role at the nanoscale. TA with a polyphenol hydroxyl structure can chemically react with organic or inorganic materials, among which metal-phenolic networks (MPNs) formed by coordination with metal ions and polyphenol derivatives formed by interactions with organic matter, exhibit specific properties and functions, and play key roles in photo(electro)catalysis. In this paper, we first introduce the fundamental properties of TA, then summarize the factors influencing the properties of MPNs and structural transformation of polyphenol-derived materials. Subsequently, the functions of MPNs and polyphenol derivatives in photo(electro)catalysis reactions are summarized, encompassing improving interfacial charge carrier separation, accelerating surface reaction kinetics, and enhancing light absorption. Finally, this article provides a comprehensive overview of the challenges and outlook associated with MPNs. Additionally, it presents novel insights into their stability, mechanistic analysis, synthesis, and applications in photo(electro)catalysis.