Photochromism is a term that describes the photoreversible isomerization between two different states or isomers with distinct performances. Among all the photochromic molecule family, diarylethene is considered one of the most popular star molecules on account of its fast photoresponsibility, excellent thermal stability, fatigue resistance, high photoreaction quantum yield, and conversion ratio as well as good performances in both solution and solid phases. In the past decades, the development of diarylethene is witnessed in molecule design, solution applications, surface/interface assembly, bulky crystals and polymers, optic‐electronic devices fabrication, and biotechnology. This review mainly focuses on the latest development of diarylethenes in recent five years and commences with the newly designed molecular structures with functional ethene bridges and aryl moieties. The application of diarylethenes in materials science, soft materials, molecular data processing, and biomaterials, is further discussed in prospect. A brief summary is given in the end of the review together with some perspectives.