Aqueous Zn battery turns to be a rational approach for next‐generation energy storage devices due to the high abundance, admirable theoretical capacity and excellent safety. As an emerging candidate of the ideal cathode material for Zn battery, Co‐based compounds have drawn increasing attentions because of the high output voltage, remarkable theoretical capacity and excellent redox property. In this review, a summary of recent developments of Co‐based cathodes in aqueous Zn batteries is presented, including Co3O4, Co(OH)2, NiCo2O4 and other Co‐based compounds. In addition to charge storage mechanisms, smart strategies including structural modulation, composition regulation, and defect engineering are systematically introduced, and their structure‐performance relationships are discussed in depth. Finally, limitations and proposed future work are demonstrated.