This review provides a comprehensive overview of research on 1,2,4‐triazoles conducted over the last fifteen years. 1,2,4‐Triazoles are highly significant in the pharmaceutical industry, with numerous compounds from this class used clinically as antifungal, antiviral, antibacterial, anti‐inflammatory, and antitubercular agents. Beyond their pharmaceutical relevance, this review also explores their role in material science and agriculture. In material science, 1,2,4‐triazoles are gaining prominence, particularly in the development of energetic materials (EMs), due to their exceptional properties such as thermal stability, coordination ability, and performance comparable to well‐known explosives. Their applications extend to polymers, corrosion inhibitors, and metal‐organic frameworks (MOFs), and they play a significant role in the development of functional materials for sensors, catalysis, and energy storage. Additionally, the review addresses general aspects and synthetic methodologies for the functionalization and construction of the 1,2,4‐triazole ring. Synthetic methods discussed include metalation synthesis, cyclization of hydrazine derivatives, multicomponent reactions, cyclization of amides and amidines, and microwave‐assisted synthesis. Given the significance of the triazole scaffold, its synthesis has garnered considerable attention due to its wide‐ranging applications across various industrial sectors.