Due to the accessibility of the eye surface, topical administration of ophthalmic medications is the most common method for treating conditions affecting the exterior eye surface. Various ocular delivery systems, such a ointments, suspensions, micro‐ and nanocarriers, and liposomes, have been investigated during the past two decades. This article focuses on the topical application of drugs to the surface of the eye and discusses the most recent formulation approaches in this area.