Olefin polymerization catalysts employing late transition metals, such as Ni, Pd, Fe and Co, have been heavily investigated since their discovery in the mid‐1990s. Despite the advantages and appeal these catalysts have displayed in academic research, their implementation in industry has remained restricted due to a variety of limitations and drawbacks. One specific limitation is the relative thermal instability of most late transition metal olefin polymerization catalysts at the temperatures commonly utilized for industrial polymerizations. This review focuses on the development of Ni‐, Pd‐, Fe‐ and Co‐based olefin polymerization catalysts that display increased thermal stability at super‐ambient reaction temperatures. These advances in thermal stability have been realized using a variety of ligand modifications, and their polymerization activities and thermal stability are summarized herein. Lastly, a brief outlook on the future of thermally stable, late transition metal olefin polymerization catalysts is provided. © 2018 Society of Chemical Industry