Nowadays, Li‐ion batteries have achieved great success and are widely used in various fields. However, the scarcity and uneven distribution of lithium resources together with the increasing cost may hamper the sustainable development of Li‐ion batteries in the future. Hence, many researchers have turned to potassium ion batteries due to their abundant raw materials, low price, and high energy density. Although great progress has been made in recent years, there are still existing many challenges, especially the severe side reaction between electrolyte and K metal, which leads to an unstable solid–liquid interface and low coulombic efficiency. Hence, an excellent electrolyte may be the key to development of K‐ion batteries in the future. Unfortunately, no systematic research has been conducted to study the electrolyte and its role on the performance yet. In order to compensate for this limitation, in this paper, the status and progress of electrolytes for K‐ion batteries are reviewed, the issues and challenges existing in the development of electrolyte are clarified, and the future development is prospected.