High dielectric constant (high
k
) polymer composites are promising materials used in transistors, pulsed power systems, artificial muscles, energy harvesting and storage, and electrocaloric cooling applications. Based on the type of filler used, they can generally be classified as nonconductive filler (ceramic) based, conductive filler based, and a hybrid type containing both nonconductive and conductive fillers. In this article, the physical models and development of high
k
polymer composites are briefly illustrated. Particularly, the main factors that affect the dielectric properties of polymer composites, including filler size, shape, dispersion state, orientation, surface properties, and three‐dimensional structure, are discussed. Finally, we briefly conclude with the state of the current research on high
k
polymer composites and present our perspectives on future challenges in the development of new high
k
polymer composites.