AbstractRadiative cooling (RC) is a carbon‐neutral cooling technology that utilizes thermal radiation to dissipate heat from the Earth's surface to the cold outer space. Research in the field of RC has garnered increasing interest from both academia and industry due to its potential to drive sustainable economic and environmental benefits to human society by reducing energy consumption and greenhouse gas emissions from conventional cooling systems. Materials innovation is the key to fully exploit the potential of RC. This review aims to elucidate the materials development with a focus on the design strategy including their intrinsic properties, structural formations, and performance improvement. The main types of RC materials, i.e., static‐homogeneous, static‐composite, dynamic, and multifunctional materials, are systematically overviewed. Future trends, possible challenges, and potential solutions are presented with perspectives in the concluding part, aiming to provide a roadmap for the future development of advanced RC materials.