The development of living polymerization enabled the production of polymers with precisely controlled molecular weight, narrow molecular weight distribution, and well‐defined architecture and composition. There are a number of advantages of controlled/living radical polymerization (CRP) as compared to ionic polymerization. Such advantages include applicability to a wide range of monomers and solvents, tolerance to impurities and functional groups, and ease of experimental set‐up. The most widely used CRP techniques include atom transfer radical polymerization (ATRP), nitroxide‐mediated polymerization, organometallic‐mediated radical polymerization, and degenerative transfer polymerization. In each case, control is maintained via fast dynamic equilibrium between dormant species and propagating chains. This article gives details on ATRP fundamentals, mechanistic considerations, conducting ATRP, materials, and functionality. Recent advances in catalyst design, initiation systems, and material synthesis have expanded the potential of ATRP as an environmentally benign process.