Ferroelectrics carry a switchable spontaneous electric polarization. Thispolarization is usually coupled to strain, making ferroelectrics goodpiezoelectrics. When coupled to magnetism, they become so-called multiferroicsystems, a field that has been widely investigated since 2003. Whileferroelectrics are birefringent and non-linear optically transparent materials,the coupling of polarization with optical properties has received, since 2009,renewed attention, triggered notably by low-bandgap ferroelectrics suitable forsunlight spectrum absorption and original photovoltaic effects. Consequently,power conversion efficiencies up to 8.1% were recently achieved and valuesof 19.5% were predicted, making photoferroelectrics promising photovoltaicalternatives. This article aims at providing an up-to-date review on thisemerging and rapidly progressing field by highlighting several importantissues and parameters, such as the role of domain walls, ways to tune thebandgap, consequences arising from the polarization switchability, and the roleof defects and contact electrodes, as well as the downscaling effects. Beyondphotovoltaicity, other polarization-related processes are also described, likelight-induced deformation (photostriction) or light-assisted chemical reaction(photostriction). It is hoped that this overview will encourage further avenuesto be explored and challenged and, as a byproduct, will inspire other research