Thermoelectric materials have aroused wide attention because of the capability to directly convert heat into electricity. AgSbSe2 is a structural analogue of PbTe but does not contain toxic element Pb or expensive element Te. Besides, it possesses both high Seebeck coefficient and inherently low thermal conductivity, making AgSbSe2 a competitive candidate for mid‐temperature thermoelectric power generation. This review summarizes the most recent updates of AgSbSe2‐based thermoelectric compounds. It starts with a general introduction of the crystal and electronic band structures of pristine AgSbSe2 with particular emphasis on the debate about whether cations arrangement is ordered or disordered. We then discuss why AgSbSe2 displays glass‐like heat conduction despite its crystalline nature. Subsequently, the strategies of boosting the electrical properties of the titled compound are elaborated. Finally, we point out the challenges and outlooks toward the future development of AgSbSe2‐based thermoelectric materials.