Over the past decades, supramolecular luminescent materials (SLMs) have attracted considerable attention due to their dynamic noncovalent interactions, versatile functions, and intriguing applications in many research fields. From construction to application, great efforts and progress have been made in color‐tunable SLMs in recent years. In order to realize multicolor luminescence, various design strategies have been proposed. Macrocyclic chemistry, one of the brightest jewels in the field of supramolecular chemistry, has played a crucial role in the construction of stimuli‐responsive and emission‐tunable SLMs. Moreover, the flexible and tunable conformation and multiple noncovalent complexation sites of the macrocyclic arenes (MAs) afford a new opportunity to create such dynamic smart luminescent materials. Inspired by our reported work on the color‐tunable supramolecular crystalline assemblies modulated by the conformation of naphth[4]arene, this concept provides a summary of the latest developments in the construction of color‐tunable MA‐based SLMs, accompanied by the various construction strategies. The aim is to provide researchers with a new perspective to construct color‐tunable SLMs with fascinating functions.