The oxidative dehydrogenation of propane using CO2 (CO2−ODP) is a promising technique for realizing high‐yield propylene production and CO2 usage. Developing a highly efficient catalyst for CO2−ODP is essential and beneficial to the chemical industry and for realizing net‐zero emissions. Many studies have investigated metal oxide‐based catalysts, revealing that rapid deactivation and low selectivity remain limiting factors for their industrial applications. In recent years, metallic nanoparticle catalysts have become increasingly attractive due to their unique properties. Therefore, we summarize the performance of metal‐based catalysts in CO2−ODP reactions by considering catalyst design concepts, different mechanisms in the reaction process, and the role of CO2.