Arylboron compounds, ArnB(OH)3–n (n = 1–3), bearing electron‐withdrawing aromatic groups such as triarylboranes, diarylborinic acids, and arylboronic acids represent a new class of air‐stable and water‐tolerant Lewis acid or Brønsted acid catalysts in organic synthesis. In particular, while tris(pentafluorophenyl)borane has primarily been used as a co‐catalyst in metallocene‐mediated olefin polymerization, its potential as a Lewis acid catalyst for organic transformation is now much more extensive. Diarylborinic acids and arylboronic acids have shown themselves to be powerful tools in the design of chiral boron catalysts. This article provides a comprehensive summary of the organic transformations catalyzed by arylboron compounds as acids.