We present a detailed review of the moduli stabilisation mechanism and possible cosmological implications of the LARGE Volume Scenario (LVS) that emerges naturally in the context of type IIB Calabi‐Yau flux compactifications. After a quick overview of physics beyond the Standard Model, we present string theory as the most promising candidate for a consistent theory of quantum gravity. We then give a pedagogical introduction to type IIB compactifications on Calabi‐Yau orientifolds where most of the moduli are stabilised by turning on background fluxes. However in order to fix the Kähler moduli one needs to consider several corrections beyond the leading order approximations. After presenting a survey of all the existing solutions to this problem, we derive the topological conditions on an arbitrary Calabi‐Yau to obtain the LVS since it requires no fine‐tuning of the fluxes and provides a natural solution of the hierarchy problem. After performing a systematic study of the behaviour of string loop corrections for general type IIB compactifications, we show how they play a crucial rôle to achieve full Kähler moduli stabilisation in the LVS. Before examining the possible cosmological implication of these scenarios, we present a broad overview of string cosmology. We then notice how, in the case of K3‐fibrations, string loop corrections give rise naturally to an inflationary model which yields observable gravity waves. We finally study the finite‐temperature behaviour of the LVS and discuss prospects for future work.