This review comprehensively covers the coordination chemistry of elemental phosphorus during the years 2011–2020. The main part is dedicated to the activation of white phosphorus mediated by early and late transition metals and its subsequent reactivity once in the coordination sphere of a metal. The burgeoning interest towards early TMs has opened the way to new coordination topologies and types of reactivity. Meanwhile, the coordination chemistry of P4 towards late transition metal elements has also attracted significant attention. Numerous studies have targeted transformations of P4-derived phosphorus ligands and the subsequent release of said ligand fragments. The final part of this review focuses on the black allotrope of phosphorus, which offers a polydentate phosphorus surface able to interact with transition metals forming new functionalized 2D materials.