Reducing CO2 emissions is an urgent global priority. In this context, several mitigation strategies, including CO2 tax and stringent legislation, have been adopted to halt the deterioration of the natural environment. Also, carbon recycling procedures undoubtedly help reduce net emissions into the atmosphere, enhancing sustainability. Utilizing Earth’s abundant CO2 for the production of high‐value chemicals and fuels opens new avenues for the chemical industry. In this context, much effort has been devoted to converting CO2 as a feedstock into various value‐added chemicals, such as CH4, lower olefins, methanol, gasoline, and long‐chain hydrocarbons, for numerous applications involving various catalytic reactions. Although several CO2‐conversion methods have been used, including electrochemical, photochemical, and biological approaches, the hydrogenation method allows the reaction to be tuned to produce the targeted compound without significantly altering infrastructure. This review discusses the numerous hydrogenation routes and their challenges, such as catalyst design, operation, and the combined art of structure–activity relationships for the various product formations.