Hot embossing is a small-scale, low-cost processing technology that can deliver products to the market in a short time. This microreplication technology is well established to produce polymeric components and has applications in several industrial sectors. The use of micropowder hot embossing in the production of metal components is an emerging and challenging process that, when compared to other typical technologies, brings some economic advantages in a volatile market with an increasing tendency to manufacture customized products. The main objective of this review is to analyze the potential of powder hot embossing and its developments in the production of metallic microparts/components. This technology requires four distinct steps: (1) production feedstock (preparation of mixtures), (2) hot embossing (shape forming), (3) debinding and (4) sintering. These steps are interrelated and influence the characteristics of the final metallic microparts. This study summarizes the approaches implemented for the use of different metallic powders and polymeric binder systems for the preparation of the feedstock, the mold materials and the critical conditions tested in the embossing step to produce green parts, and the production of the final parts through the application of debinding and sintering. Powder hot embossing is a viable replication technology that allows the production of new metallic microcomponents, contributing to the global scientific effort of miniaturizing manufacturing process, equipment and products. The merit of powder hot embossing for industrialization needs further development to assert itself in the market and compete with other micromanufacturing techniques.