The assembly of functional materials into microstructures, which extends unique features such as enlarged specific surface areas, effective conduction paths, higher material utilization ratios, and ordered alignment compared to continuous films, has gained prominence in various fields. Achieving high performance in electronics requires cooperation among building blocks, fabrication methods, and device design. However, the remaining challenge is obtaining highly regular and large‐scale patterns with controllable assembly methods while maximizing device performances. Manipulating functional materials with liquid assistance is a feasible approach to realizing controllable dewetting, regular molecule packing, and customized performances. This review focuses on the recent advances in preparing and applying liquid‐induced microstructures. The predominant preparation technologies are summarized, including flow‐enabled assembly, nanoimprint lithography, and capillary‐bridge‐mediated assembly. Furthermore, diverse applications of various microstructure‐based electronics, such as flexible and transparent electrodes, organic field‐effect transistors, gas sensors, photodetectors, and solar cells, are demonstrated.