The potential of harnessing osmotic energy from the interaction between seawater and river water has been recognized as a promising, eco‐friendly, renewable, and sustainable source of power. The reverse electrodialysis (RED) technology has gained significant interest for its ability to generate electricity by combining concentrated and diluted streams with different levels of salinity. Nanofluidic membranes with tailored ion transport dynamics enable efficient harvesting of renewable osmotic energy. In this regard, anodic aluminum oxide (AAO) membranes with abundant nanochannels provide a cost‐effective nanofluidic platform to obtain structures with a high density of ordered pores. AAO can be utilized in constructing asymmetric composite membranes with enhanced ion flux and selectivity to improve output power generation. In this review, we first present the fundamental structure and properties of AAO, followed by summarizing the fabrication techniques for asymmetric membranes using AAO and other nanostructured materials. Subsequently, we discuss the materials employed in constructing asymmetric structures incorporating AAO while emphasizing how material selection and design can resist and promote efficient energy conversion. Finally, we provide an outlook on future applications and address the challenges that need to be overcome for successful osmotic energy conversion.