Gold nanobipyramids (Au NBPs) and gold nanorods (Au NRs) are two types of elongated plasmonic nanoparticles with their longitudinal dipolar plasmon wavelengths synthetically tunable from the visible region to the near-infrared region. Both have highly polarization-dependent absorption and scattering cross sections because of their anisotropic geometries. In terms of their differences, each Au NBP has five equally angularly separated twinning planes that are aligned parallel to the length direction, while the most common Au NRs are single-crystalline. As a result, Au NBPs possess two sharp end tips, while Au NRs have rounded or flat ends, resulting in very different plasmonic properties. In general, Au NBPs exhibit larger local electric field enhancements, larger optical cross sections, narrower line widths, better shape and size uniformity, and higher refractive index sensitivity than Au NRs. With the recent development of reliable methods for the growth of Au NBPs with high purity and uniformity, Au NBPs have been attracting much interest for the investigation of their intriguing plasmonic properties and applications. In this Account, we provide a concise introduction to Au NBPs, including their fascinating plasmonic properties, wet-chemistry growth methods, plasmonic applications, and structure-directing function. The synthesis of uniform Au NBPs with variable sizes is of vital importance to control their plasmonic properties. In the synthesis part, we summarize the recent developments on the synthesis of Au NBPs, with a focus on the role of seeds in the seed-mediated growth of pentatwinned Au NBPs and methods to improve their number purity. The excellent plasmonic properties of Au NBPs make them promising candidates for numerous applications. To further explore the largely improved functionalities of Au NBPs, different types of Au-NBP-based hybrid nanostructures have been prepared. They exhibit synergistic interactions between Au NBPs and the other components. We highlight the widespread plasmonic applications of Au NBPs and Au-NBP-based hybrid nanostructures in the fields of spectroscopy, photocatalysis, sensing, switching, and biomedical technologies. We next turn to the structure-directing function of Au NBPs to demonstrate the Au-NBP-directed growth of metal nanostructures and their applications. The structure-directing function is enabled by the unique pentatwinned crystalline structure of Au NBPs. Finally, we conclude with remarks on the future perspectives and research directions on Au NBPs as well as the remaining challenges. We hope that this Account will act as a platform to offer fascinating opportunities and stimulate fast-growing research on the various aspects of Au NBPs.