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Isoxazoline and isoxazole derivatives are an important class of nitrogen and oxygen containing heterocycles that are well known to display an array of various biological properties. Among them, compounds bearing fluorine or fluoroalkyl substituents not only exhibit important pharmacological and agrochemical properties but also act as useful precursors for the synthesis of some biologically potent agents. In addition, mechanistic aspects leading to their formation and NMR spectral characteristics have been a matter of great interest to the synthetic and medicinal chemists. Therefore, this review summarizes the overall developments made on the syntheses of fluorinated isoxazoline and isoxazole derivatives till date besides their biological importance.