An overview is given of cobalt-catalyzed chain transfer in free-radical polymerization and the chemistry and applications of its derived macromonomers. Catalytic chain transfer polymerization is a very efficient and versatile technique for the synthesis of functional macromonomers. Firstly the mechanism and kinetic aspects of the process are briefly discussed in solution/bulk and in emulsion polymerization, followed by a description of its application to produce functional macromonomers. The second part of this review briefly describes the behavior of the macromonomers as chain transfer agents and/or comonomers in second-stage radical polymerizations yielding polymers of more complex architectures. The review ends with a brief overview of post-polymerization modifications of the vinyl endfunctionality of the macromonomers yielding functional polymers with applications ranging from initiators in anionic polymerization to end-functional lectin-binding glycopolymers.