I briefly summarize current experimental and theoretical results on the two important processes of the low-energy hadron physics involving neutral pions: the rare decay π°→e+e- and the π° Dalitz decay. The notorious rare-decay 3.3σ discrepancy between the Standard Model prediction and the experimental value provided by KTeV collaboration is discussed in the view of the complete set of next-to-leading-order QED radiative corrections. The two-hadron-saturation (THS) scenario for the PVV correlator is presented. Related to the π° Dalitz decay, a new conservative value for the ratio R=Γ(π°→e+e-γ(γ))/Γ(π°→γγ)=11.978(6)x10^{-3}, which is by two orders of magnitude more precise than the current PDG average, is provided. Furthermore, I present the radiative corrections to the Dalitz decays η(')→l+l-γ beyond the soft-photon approximation, which inevitably depend on the η(')→γ*γ(*) transition form factors.