A self-similar reduction of the Korteweg–de Vries hierarchy is considered. A linear system of equations associated with this hierarchy is presented. This Lax pair can be used to solve the Cauchy problem for the studied hierarchy. It is shown that special solutions of the self-similar reduction of the KdV hierarchy are determined via the transcendents of the first Painleve hierarchy. Rational solutions are expressed by means of the Yablonskii–Vorob’ev polynomials. The map of the solutions for the second Painleve hierarchy into the solutions for the self-similar reduction of the KdV hierarchy is illustrated using the Miura transformation. Lax pairs for equations of the hierarchy for the Yablonskii–Vorob’ev polynomial are discussed. Special solutions to the hierarchy for the Yablonskii–Vorob’ev polynomials are given. Some other hierarchies with properties of the Painleve hierarchies are presented. The list of nonlinear differential equations whose general solutions are expressed in terms of nonclassical functions is extended.