With the fast growth of wireless communication technology in high‐frequency ranges, electromagnetic (EM) interference has become a growing concern that has drawn international attention. The development of materials that can absorb EM radiation is a crucial solution. This review provides a detailed overview of ferrites, specifically hexagonal ferrites and their composites for microwave (MW) absorption. It examines hexagonal ferrite classifications based on the stacking order of their fundamental blocks and their synthesis methods and strategies for improving their magnetic properties. On the other hand, this review included a detailed examination of hexagonal ferrites–conducting polymer, hexagonal ferrites–2D materials, and hexagonal ferrite–other nanomaterials composites for MW absorption applications. Enhancing MW absorption in hexagonal ferrites‐based microwave absorption materials (MAMs) regulates their EM characteristics, improves impedance matching, and creates a diversity of loss mechanisms. In addition, the limitations, challenges, and opportunities of hexagonal ferrites‐based MAMs are discussed, which will be helpful to those working in related areas. As a general application potential, it is worth mentioning that, as a result of recent promising findings in the synthesis of hexagonal ferrites‐based composites, hexaferrite‐based composites are suitable devices in the area of microwave absorption.