Porous materials have recently attracted significant attention in the aerospace and biomedical fields for addressing issues related to friction and wear. Porous materials are beneficial in applications where continuous lubrication is not feasible or for components that operate under extreme conditions, such as high speeds, elevated temperatures, and heavy loads. The pores can serve as reservoirs for liquid lubricants, which are gradually released during the operation of the components. The tribological properties of these materials depend on their porosity, the lubricants used, and any additional additives incorporated into the porous materials. This review article provides insight into common fabrication techniques for porous materials and examines their tribological performance for all three classes of materials—polymers, metals, and ceramics. Additionally, it discusses design criteria for porous self-lubricating materials by highlighting the critical properties of both the substrate and lubricants.