Benzofurans have garnered the attention of medicinal chemists due to their broad pharmacological activity. Benzofuran: Production and Applications provides insight into the natural origin of these compounds, reported biological activities for various analogs, synthetic routes to obtain benzofurans substituted at different heterocycle sites, and controlled release encapsulation methods. Dihydrobenzofuran neolignans are secondary metabolites arising from the coupling of two phenylpropanoid units during the shikimate biossynthetic pathway. In this compilation, the natural sources and synthetic routes from which dihydrobenzofuran neolignans can be obtained are reviewed, and their biological potential is highlighted. Additionally, the authors focus on the palladium and rhodium catalyzed multiple C-H functionalizations in the synthesis of benzofurans and their derivatives. The use of Ir and Ru salts is also explored. A review of the aspects related to cancer initiation and progress, as well as the applications of benzofurans as structural frameworks for the development of new drugs against cancer, is provided.