Smart wound dressings capable of detecting, monitoring, and regulating complicated dynamic healing processes hold tremendous potential in wound healing and tissue reconstruction. Micro/nanofiber‐based materials are regarded as one of the most promising candidates to develop smart wound dressings owing to their remarkable features including architectural mimicry of extracellular matrix, tunability in structural assembly, and diversity in functionality. Herein, the latest progress of smart micro/nanoscale fiber‐based materials in terms of composition engineering, structural design, and applications in wound management is comprehensively reviewed. This work begins with the advances in smart fibers including stimuli‐responsive fibers, shape memory fibers, and conductive fibers. Then, the structural design of fiber‐based materials from conventional 2D fibrous membrane to emerging 3D fibrous sponge/hydrogel is thoroughly discussed. Furthermore, the applications of smart micro/nanofibrous materials as wound dressings in stimuli‐responsive drug delivery, biomechanical stimulation, electrical stimulation, and wound monitoring are highlighted. Finally, the article offers perspectives on the existing challenges and future directions of smart fibrous materials for wound management.