AbstractDynamic covalent bonds (DCBs) have attracted huge interest in the past two decades, particularly in polymer materials, due to their reversibility. The introduction of DCBs into polymers often endows the polymers with unprecedented properties such as self‐healing, shape memory, enhanced mechanical strength, and stimuli responsiveness. Specifically, DCBs offer unique opportunities for self‐healing materials by enabling the spontaneous reformation of covalent linkages and restoring structural integrity upon damaged or mechanical stress. Additionally, shape memory behavior allows polymers to retain programmed shapes and undergo reversible transformations triggered by external stimuli. This property finds applications in various fields such as biomedical devices and smart textiles. Furthermore, DCBs enhance mechanical strength, making polymers resilient and durable, thus expanding their applications in structural materials. Their stimuli responsiveness allows for dynamic modulation of properties based on environmental triggers, enabling the development of intelligent materials for sensors, drug delivery systems, and responsive coatings. This review provides an overview of commonly employed DCBs in polymer materials, explaining their dynamic behaviors, reversibility, and stabilities. It also explores the diverse applications of DCB‐based polymers, from self‐healing coatings to shape memory polymers. Through these advancements, the potential for future breakthroughs in materials science becomes evident.