The urgent demand for lithium ion batteries with high energy density is driving the increasing research interest in Si, which possesses an ultrahigh theoretical capacity. Though various modification strategies have been proposed from the aspects of electrolytes, binders, Si‐M alloys, and Si/C composites, the preparation of nano‐structured Si is the first step for industrial application, since it has the potential solve the intrinsic problem of severe volume change during the lithiation/delithiation process. A series of Si nanostructures including 0D (nanoparticles), 1D (nanowires, nanotubes), 2D (thin film), and 3D (porous structure) have been developed and displayed encouraging results. However, it remains a great challenge to realize industrial production with acceptable cost and batch stability. In this review, the preparation development of nano‐structured Si is revisited. After briefly introducing the market situation for nanostructured Si, the fabrication of various kinds of nanostructure Si are introduced, and the corresponding progress including ball milling, magnesium thermal reduction, temple method, chemical vapor deposition, and chemical etching are comprehensively reexamined and compared from the perspective of mechanism, cost, technical maturity, and recent development. Finally, the further directions of nano‐structured Si preparation toward industrial production are deeply discussed. This review of preparation of nanostructured Si helps to pave the way toward commercial application of high energy density Si‐anodes.