Smart windows refer to those which can dynamically modulate the transmitted light by changing their colors. Dual-band electrochromic materials (ECMs) refer to materials that can change their colors and regulate light transmission in both visible (VIS) and infrared (IR) regions under different voltages. The dual-band ECMs-based building windows can thus regulate the indoor temperature to reduce the energy consumption for heating and airconditioning systems. Therefore, the wide application of ECMs in building windows will contribute a lot to establishing an energy-saving society. During the past decades, enormous efforts have been made to improve the performance of dual-band ECMs. This review presents a summary of the recent progress of dual-band ECMs, focusing on their modulation mechanism, material design, and performance optimization. Finally, the challenges and outlook of dual-band ECMs are also discussed.