The Yocto Project
The Yocto Project is a more complex beast than Buildroot. Not only can it build toolchains, bootloaders, kernels, and root filesystems as Buildroot can, but it can generate an entire Linux distribution for you with binary packages that can be installed at runtime. The Yocto Project is primarily a group of recipes, similar to Buildroot packages but written using a combination of Python and shell script, together with a task scheduler called BitBake that produces whatever you have configured, from the recipes.
There is plenty of online documentation at https://www.yoctoproject.org/.
Background
The structure of the Yocto Project makes more sense if you look at the background first. It's roots are in OpenEmbedded, http://openembedded.org/, which, in turn, grew out of a number of projects to port Linux to various hand-held computers, including the Sharp Zaurus and the Compaq iPaq. OpenEmbedded, which came to life in 2003 as the build system for those hand-held computers. Soon after...