Separation of micro/nanoparticles, such as cellular, subcellular and biomolecular, has attracted increasing attention because of their remarkable potential applications in various fields, including chemistry, physics, medicine, etc. Among different micro/nanoparticle separation methods, acoustofluidics, which combines acoustics and microfluidics, has drawn the interest of researchers due to its biocompatibility, high efficiency and free labeling. In this review, the basic constitutions, mechanisms, and materials of acoustofluidics are described. Subsequently, sorts of delicately designed acoustofluidic devices, including diverse bulk acoustic wave (BAW) microfluidics and surface acoustic wave (SAW) microfluidics, are discussed, covering principles, advantages, limitations and applications in separation. Besides the introduction of advances of micro/nanoparticle separation in the BAW microfluidics, the SAW microfluidics are elaborated in detail with a focus on various configurations of interdigital transducers (IDTs), comprising straight IDT, slanted‐finger IDT, chirped IDT and focused IDT. Microfluidic systems of the acoustofluidics involve the forms of straight channels, serpentine channels, and droplets. Additionally, besides simply structured acoustofluidics, acoustofluidics integrated with other structures are also mentioned. Finally, the prospects and limitations of acoustofluidics in micro/nanoparticle separation are also discussed. The acoustofluidics reviewed here is envisioned as a versatile tool for micro/nanoparticle separation at the cellular, sub‐cellular, and biomolecular levels.