This review of the fundamental aspects of polymer stabilization technology covers aspects of oxidative degradation of polymers, and the deleterious effects of oxygen and the environment: temperature, sunlight, ozone, atmospheric pollutants, water, mechanical stress, adventitious metal, and metal ion contaminants. The role of antioxidants in polymer stabilization with examples to illustrate the basic mechanisms of action and the range of chemical and physical factors that affect performance are discussed. Different classes of antioxidants that act by different and complementary mechanisms are covered. Also included are examples of recent developments and progress in areas of application where melt, heat, and light stabilizers are generally employed, as well as in more targeted areas that benefit specifically from the use of time‐control stabilizers, high molar mass antioxidants, reactive (polymerizable or graftable) antioxidants, and biological antioxidants.