It is the unique size-dependent band gap of quantum dots (QDs) that makes them so special in various applications. They have attracted great interest, especially in optoelectronic fields such as light emitting diodes and photovoltaic cells, because their photoluminescent characteristics can be significantly improved via optimization of the processes by which they are synthesized. Control of their core/shell heterostructures is especially important and advantageous. However, a few challenges remain to be overcome before QD-based devices can completely replace current optoelectronic technology. This Special Issue provides detailed guides for synthesis of high-quality QDs and their applications. In terms of fabricating devices, tailoring optical properties of QDs and engineering defects in QD-related interfaces for higher performance remain important issues to be addressed.