Polymers are widely used as dielectric components and electrical insulations in modern electronic devices and power systems in the industrial sector, transportation, and large appliances, among others, where electrical damage of the materials is one of the major factors threatening the reliability and service lifetime. Self‐healing dielectric polymers, an emerging category of materials capable of recovering dielectric and insulating properties after electrical damage, are of promise to address this issue. This paper aims at summarizing the recent progress in the design and synthesis of self‐healing dielectric polymers. The current understanding to the process of electrical degradation and damage in dielectric polymers is first introduced and the critical requirements in the self‐healing of electrical damage are proposed. Then the feasibility of using self‐healing strategies designed for repairing mechanical damage in the healing of electrical damage is evaluated, based on which the challenges and bottleneck issues are pointed out. The emerging self‐healing methods specifically designed for healing electrical damage are highlighted and some useful mechanisms for developing novel self‐healing dielectric polymers are proposed. It is concluded by providing a brief outlook and some potential directions in the future development toward practical applications in electronics and the electric power industry.