Palladium‐catalyzed carbonylation reactions of alkenes and alkynes with different nucleophiles have undergone rapid development ever since the seminal work of Reppe back in the 1930s. Nowadays, a plethora of palladium catalysts and various synthetic protocols are available for the synthesis of valuable carboxylic acids and acrylic acids as well as their derivatives. Herein, we summarize the recent catalyst developments and selected organic applications in this area.