Organic triplet-triplet annihilation photon upconversion (TTA-UC) systems have attracted considerable attention owing to their promising applicability in solar energy harvesting, optoelectronic devices, photocatalysts, and bio-imaging. In this study, a series of BODIPYs prepared by incorporating substituted/ unsubstituted arylselenium groups, 1 (R = H), 2 (R = OMe), and 3 (R = F), were evaluated as triplet photosensitizers for TTA-UC. Direct Se-C bond formation on the BODIPY core provided a facile intersystem crossing (ISC) channel from the excited singlet state to the metastable triplet state, being the most effective in 2, as inferred from the singlet oxygen generation experiments, possibly because of the n-electron arising from the OMe group. The UC behavior of systems comprising the sensitizers and perylene as the acceptor in deaerated toluene was investigated using a 524 nm-wavelength laser to detect upconverted emission at 449 nm; thus, the UC yield decreased in the order of 21% for 3 > 16% for 2 > 12% for 1. This trend is consistent with the Stern-Volmer constants calculated from the quenched triplet state lifetimes of the sensitizers as a function of the concentration of the perylene quencher. This suggests that the UC efficiency was mainly governed by the intermolecular triplet-triplet energy transfer (TTET) process between arylselanyl-BODIPY photosensitizers and the perylene acceptor. This result was rationalized by the efficient population of the long-lived triplet excited state of the sensitizer, which is advantageous for diffusion-controlled TTA-UC behavior.