This review summarizes the recent developments in the synthesis of new speciality macromolecules by the use of living carbocationic polymerization processes. After discussing the fundamentals of carbocationic macromolecular engineering and living polymerizations, a wide variety of useful materials such as macromonomers, telechelics, polymers with pendant functional groups, star-shaped macromolecules, block and graft copolymers, and networks available by the use of living carbocationic polymerization processes are described.