Fragrance plays a crucial role in the daily lives. Its importance spans various sectors, from therapeutic purposes to personal care, making the understanding and accurate identification of fragrances essential. To fully harness the potential of fragrances, efficient and precise fragrance sensing and identification are necessary. However, current fragrance sensors face several limitations, particularly in detecting and differentiating complex scent profiles with high accuracy. To address these challenges, the use of atom‐thin materials in fragrance sensors has emerged as a groundbreaking approach. These atom‐thin sensors, characterized by their enhanced sensitivity and selectivity, offer significant improvements over traditional sensing technology. Moreover, the integration of Machine Learning (ML) into fragrance sensing has opened new opportunities in the field. ML algorithms applied to fragrance sensing facilitate advancements in four key domains: accurate fragrance identification, precise discrimination between different fragrances, improved detection thresholds for subtle scents, and prediction of fragrance properties. This comprehensive review delves into the synergistic use of atom‐thin materials and ML in fragrance sensing, providing an in‐depth analysis of how these technologies are revolutionizing the field, offering insights into their current applications and future potential in enhancing the understanding and utilization of fragrances.