The COVID‐19 pandemic represents an unparalleled global public health crisis. Despite concerted research endeavours, the repertoire of effective treatment options remains limited. However, neutralising‐antibody‐based therapies hold promise across an array of practices, encompassing the prophylaxis and management of acute infectious diseases. Presently, numerous investigations into COVID‐19‐neutralising antibodies are underway around the world, with some studies reaching clinical application stages. The advent of COVID‐19‐neutralising antibodies signifies the dawn of an innovative and promising strategy for treatment against SARS‐CoV‐2 variants. Comprehensively, our objective is to amalgamate contemporary understanding concerning antibodies targeting various regions, including receptor‐binding domain (RBD), non‐RBD, host cell targets, and cross‐neutralising antibodies. Furthermore, we critically examine the prevailing scientific literature supporting neutralising antibody‐based interventions, and also delve into the functional evaluation of antibodies, with a particular focus on in vitro (vivo) assays. Lastly, we identify and consider several pertinent challenges inherent to the realm of COVID‐19‐neutralising antibody‐based treatments, offering insights into potential future directions for research and development.