Light is essential for plant growth and development, which serves as an energy source for photosynthesis and as environmental cues for photomorphogenesis (i.e., light-mediated development). Plants continually adapt to light environments to optimize their growth and development by monitoring with help of various photoreceptors including phytochromes. As red (R) and far-red (FR) light-absorbing photoreceptors, they function as a molecular switch with R-absorbing Pr and FR-absorbing Pfr forms. In the dark, phytochromes are biosynthesized as the inactive Pr form, which can be phototransformed into the physiologically active Pfr form upon exposure to light. The Pr-to-Pfr photoactivation of phytochromes induces a highly regulated signaling network for photomorphogenesis in plants, which includes translocation of phytochromes into the nucleus, interaction of phytochromes with a wide array of downstream signal transducers, regulated proteolysis of signaling targets, and transcriptional regulation of various photoresponsive genes. Moreover, several key components in the phytochrome-mediated light signaling have been identified from extensive research over several decades, which includes phytochrome-interacting factor (PIF), constitutively photomorphogenic 1 (COP1), suppressor of phyA-105 (SPA), and elongated hypocotyl 5 (HY5). In this review, we provide a highlighted view for the molecular mechanisms of phytochromes in plant light signaling based on recent advances.