Comprehensive SummaryMonitoring the dynamics of a single molecule provides unique insights into the fundamental physical and chemical properties of individual molecules. Over the past few decades, various approaches have been developed to enable the real‐time and high‐resolution detection at the single‐molecule level. Among them, electrical and optical methods are the most promising tools, for the reason that electrical detection offers high resolution while optical technology provides non‐invasive, targeted measurement with the added benefit of visualization. In this review, we summarized the current state‐of‐the‐art electrical and optical techniques for single‐molecule measurement and discussed their applications in detecting dynamic events such as conformational isomerizations, intermolecular interactions, chemical reactions, and biomolecular activities. In addition, we discussed the challenges and opportunities in this area and proposed possible directions for future development.