The piezo-phototronic effect (a coupling effect of piezoelectric, photoexcitation and semiconducting properties, coined in 2010) has been demonstrated to be an ingenious and robust strategy to manipulate optoelectronic processes by tuning the energy band structure and photoinduced carrier behavior. The piezo-phototronic effect exhibits great potential in improving the quantum yield efficiencies of optoelectronic materials and devices and thus could help increase the energy conversion efficiency, thus alleviating the energy shortage crisis. In this review, the fundamental principles and challenges of representative optoelectronic materials and devices are presented, including photocatalysts (converting solar energy into chemical energy), solar cells (generating electricity directly under light illumination), photodetectors (converting light into electrical signals) and light-emitting diodes (LEDs, converting electric current into emitted light signals). Importantly, the mechanisms of how the piezo-phototronic effect controls the optoelectronic processes and the recent progress and applications in the above-mentioned materials and devices are highlighted and summarized. Only photocatalysts, solar cells, photodetectors, and LEDs that display piezo-phototronic behavior are reviewed. Material and structural design, property characterization, theoretical simulation calculations, and mechanism analysis are then examined as strategies to further enhance the quantum yield efficiency of optoelectronic devices via the piezo-phototronic effect. This comprehensive overview will guide future fundamental and applied studies that capitalize on the piezo-phototronic effect for energy conversion and storage.