This review describes the use of nanocrystal-based photocatalysts as quantum photoinitiators, including semiconductor nanocrystals (e.g., metal oxides, metal sulfides, quantum dots), carbon dots, graphene-based nanohybrids, plasmonic nanocomposites with organic photoinitiators, and tunable upconverting nanocomposites. The optoelectronic properties, cross-linking behavior, and mechanism of action of quantum photoinitiators are considered. The challenges and prospects associated with the use of quantum photoinitiators for processes such as radical polymerization, reversible deactivation radical polymerization, and photoinduced atom transfer radical polymerization are reviewed. Due to their unique capabilities, we forsee a growing role for quantum photoinitiators over the coming years.