AbstractMultiphase microfluidics enables an alternative approach with many possibilities in studying, analyzing, and manufacturing functional materials due to its numerous benefits over macroscale methods, such as its ultimate controllability, stability, heat and mass transfer capacity, etc. In addition to its immense potential in biomedical applications, multiphase microfluidics also offers new opportunities in various industrial practices including extraction, catalysis loading, and fabrication of ultralight materials. Herein, aiming to give preliminary guidance for researchers from different backgrounds, a comprehensive overview of the formation mechanism, fabrication methods, and emerging applications of multiphase microfluidics using different systems is provided. Finally, major challenges facing the field are illustrated while discussing potential prospects for future work.