The synthesis of molecules featuring different properties is a perpetual challenge for the chemists' community. The coexistence and even more the synergy of those properties open new perspectives in the field of molecular devices and molecular electronics. In that sense, coordination chemistry contributed to the development of new functional molecules through, for instance, single-molecule magnets (SMMs) and light emitting molecules with potential applications in high capacity data storage and OLEDs, respectively. The appealing combination of both electronic properties into one single object may offer the possibility to have magnetized luminescent entities at nanometric scale. To that end, lanthanides seem to be one of the key ingredients since their peculiar electronic structures endow them with specific magnetic and luminescence properties. Indeed, lanthanides cover a wide range of emission wavelengths, from infrared to UV, which add up to a large variety of magnetic behaviors, from the fully isotropic spin (e.g., Gd(III)) to highly anisotropic magnetic moments (e.g., Dy(III)). In lanthanide complexes, ligands play a fundamental role because on one hand they govern the orientation of the magnetic moment of anisotropic lanthanides and on the other hand they can sensitize efficiently the luminescence. The design of appropriate organic ligands to elaborate such chemical objects with the desired property appears to be essential but remains a perpetual challenge. In this Account, we describe the design of lanthanide-based complexes that emit light, behave as SMMs, or combine both properties. We have paid peculiar attention to the design of ligands based on the tetrathiafulvalene (TTF) moiety. TTF and its derivatives are well-known chemical entities, stable at different oxidation states, and employed mainly in the synthesis of molecular conductors and superconductors. In addition to their redox properties, TTF-based derivatives act as organic chromophores for the sensitization of visible and near-infrared (NIR) luminescence of lanthanides. The mechanism of sensitization involves either antenna effect (energy transfer from the excited state) or photoinduced electron transfer. TTF-based ligands act also as structural agents in the conception of SMM in crystals. Such objects are obtained with the highly anisotropic Dy(III) ion in crystalline phase as well as in frozen solution with magnetic memory at helium-4 temperature (4 K). We highlight the influence of the magnetic dilution (both in amorphous solution and in diamagnetic crystalline matrix) and, particular case of dysprosium based SMMs, the effect of metal-centered isotope enrichment on the SMM properties. Our aim is not only to realize functional molecules but to rationalize both luminescence and magnetic properties on the basis of the structure of the molecules. These two properties are intimately intricate and governed by the electronic structure, which can be calculated and interpreted using modern quantum chemistry tools.