Palladium‐catalyzed asymmetric hydrofunctionalization of alkenes is one of the most powerful and straightforward methods to forge a new C‐H bond and a new C‐X (X = C, N, O, F, Si etc) bond, which provides an efficient way to obtain valuable enantioenriched molecules from cheap and readily available feedstocks. Catalytic asymmetric hydrofunctionalization of simple alkenes is challenging but still highly sought after. This review will mainly focus on the recent advances in Palladium catalyzed asymmetric hydrofunctionalization of alkenes over the past decade, including hydroamination, hydrooxygenation, hydrofluorination, hydrosilylation, hydroarylation, hydroalkenylation and hydrocarbonylation.