Multi‐component reactions have emerged as a powerful synthetic tactic for modern synthetic organic chemists for performing Diversity Oriented Synthesis. In recent years, with the advent of transition metal‐catalysed multi‐component reactions, rhodium catalysed reactions have proven to be promising candidates for delivering highly functionalized products. This review provides an overview of the rhodium‐catalysed multi‐component reactions leading to the formation of various types of compounds such as carbocycles, heterocycles of different types, spirocompounds, vicinal diols, amino acid derivatives etc.