Coherent optical control schemes exploit the coherence of laser pulses to change the phases of interfering dynamical pathways in order to manipulate dynamical processes. These active control methods are closely related to dynamical decoupling techniques, popularized in the field of Quantum Information. Inspired by Nuclear Magnetic Resonance (NMR) spectroscopy, dynamical decoupling methods apply sequences of unitary operations to modify the interference phenomena responsible for the system dynamics thus also belonging to the general class of coherent control techniques. Here we review related developments in the fields of coherent optical control and dynamical decoupling, with emphasis on control of tunneling and decoherence in general model systems. Considering recent experimental breakthroughs in the demonstration of active control of a variety of systems, we anticipate that the reviewed coherent control scenarios and dynamical decoupling methods should raise significant experimental interest.