This review discussed recent advances of oxygen carriers (OCs) for chemical looping reforming (CLR) of CH4 which aims to generate high‐quality syngas, an important chemical intermediate for the synthesis of chemicals and fuels. We firstly introduced CLR and that combined with CO2 and H2O splitting as well as clarified their advantages over conventional reforming processes. Then we reviewed the latest advances of metal‐based OCs, composite OCs including perovskites and hexaaluminates, and catalytic OCs, namely oxygen‐containing materials with catalytically metal sites, during the past five years. Specific discussion focused on the influence of composition, surface, and bulk structure of these OCs on conversion, selectivity, and lattice oxygen reactivity to summarize design and optimization strategies of the tailored OCs. Finally, a brief summary and an outlook on some of the scientific challenges and suggestions for future investigations on the development of outstanding OCs for CLR of CH4 are given.