In recent years, toroidal nanostructures have become an appealing topic in nanoscience owing to their unique structure and promising applications. Among them, polymeric toroidal self-assemblies have attracted considerable attention because of their manipulability and diversity. Despite the substantial advances in the area of polymeric nanotoroids, the universal formation principles and functions of these toroids have not been sufficiently summarized. This article aims to review recent advances in the formation and function of polymeric nanotoroids. The significant role of theoretical simulations in revealing the formation mechanism and inherent structure of toroidal assemblies is emphasized. Additionally, a perspective on the challenges of this research field is addressed.