Green monomers, such as oxygen (O2), water (H2O), and carbon dioxide (CO2), refer to a kind of natural reagents with abundant, nontoxic, cheap, environmentally friendly, renewable, and sustainable features. These monomers have been used in multicomponent polymerizations (MCPs) toward functional polymers. In this review, the recent development of MCPs involving green monomers of O2‐, H2O‐, and CO2 is summarized. The catalytic systems, polymerization conditions, the molecular weights, and potential applications of resultant polymers are briefly discussed. Furthermore, the existing challenges and the promising opportunities are concisely provided.