New 6-CF3-1H-pyrazolo[3,4-b]quinolines with a methyl and/or phenyl group attached to the pyrazole core (Molx (x = 1, 2, 3, 4)) were synthesized and characterized in terms of their optoelectronic applications: photovoltaic and electroluminescence. The fluorescence emissions of the investigated phenyl-decorated pyrazoloquinolines is caused by the photoinduced charge transfer p process occurring between the phenyl substituent and the pyrazoloquinoline core, while 1,3-dimethyl-6-CF3-1H-pyrazolo[3,4-b]quinoline exhibits an π,π*-type emission. The number of phenyls and their substitution positions modulate both emission properties and HOMO energy levels. Next, the bulk heterojunction BHJ solar cells based on 1H-pyrazolo[3,4-b] quinoline derivatives with architecture ITO/PEDOT:PSS/PDT + Molx/Al were fabricated. The organic active layer was a blend of Molx and poly(3-decylthiophene-2,5-diyl). The complex refractive index and the layer thickness of the organic solar cells were determined using a spectroscopic ellipsometer Woollam M2000 (J.A. Woollam Co., Inc., Lincoln, NE, USA) and CompleteEASE software. For solar devices with the best value of power efficiency of approximately 0.38%, the thickness of the active layer (Mol3 + PDT) was 111 nm, with a short-circuit current density of JSC = 32.81 μA/cm2 and an open–circuit voltage of VOC = 0.78 V. Finally, we demonstrated double-layer light-emitting diodes with an organic active layer (Molx + PVK) and an electron transporting material layer, ETM (2-[3,5-bis(4-phenyl-2-quinolyl)phenyl]-4-phenylquinoline (Tris-Q). Bright bluish-green light originating from the active layer was observed in the double-layer device, ITO/PEDOT:PSS/active layer/ETM/Ca/A. The active layer was a mixture of PV-doped 1H-pyrazolo[3, 4-b]quinoline dyes. An OLED device was constructed by employing Molx as an emitter, which gave a deep bluish-green emission with the spectra range of 481–506 nm. The best value of the maximum brightness at approximately 1436.0 cd/m2 was achieved for a diode based on Mol3 (1-phenyl-3-phenyl-6-CF3-1H-pyrazolo[3,4-b]quinoline) and [R1 = Ph, R3 = Ph and R6 = CF3]. The current efficiency was up to 1.26 cd/A at 506 nm with a CIE of 0.007, 0.692.