Uncontrolled sunlight entering through windows contributes to substantial heating and cooling demands in buildings, which leads to high energy consumption from the buildings. Recently, perovskite smart windows have emerged as innovative energy‐saving technologies, offering the potential to adaptively control indoor solar heat gain through their impressive sunlight modulation capabilities. Moreover, harnessing the high‐efficiency photovoltaic properties of perovskite materials, these windows have the potential to generate power, thereby realizing more advanced windows with combined light modulation and energy harvesting capabilities. This review summarizes the recent advancements in various chromic perovskite materials for achieving light modulation, focusing on both perovskite structures and underlying switching mechanisms. The discussion also encompasses device engineering strategies for smart windows, including the improvement of their optical and transition performance, durability, combination with electricity generation, and the evaluation of their energy‐saving performance in building applications. Furthermore, the challenges and opportunities associated with perovskite smart windows are explicated, aimed at stimulating more academic research and advancing their pragmatic implementation for building energy efficiency and sustainability.This article is protected by copyright. All rights reserved