As a new type of capacitor–battery hybrid energy storage device, metal‐ion capacitors have attracted widespread attention because of their high‐power density while ensuring energy density and long lifespan. Potassium‐ion capacitors (KICs) featuring the merits of abundant potassium resources, lower standard electrode potential, and low cost have been considered as potential alternatives to lithium‐/sodium‐ion capacitors. However, KICs still face issues including unsatisfactory reaction kinetics, low energy density, and poor lifetime owing to the large radius of the potassium ion. In this Review, the importance of emerging potassium‐ion capacitor is addressed. The Review offers a brief discussion of the fundamental working principle of KICs, along with an overview of recent advances and achievements of a variety of electrode materials for dual carbon and non‐dual carbon KICs. Furthermore, electrolyte chemistry, binders as well as electrode/electrolyte interface, are summarized. Finally, existing challenges and perspectives on further development of KICs are also presented.