Phosphorescent cyclometalated platinum complexes are highly attractive compounds for a variety of applications, including organic‐light emitting diodes (OLEDs), chemical and biological sensing and imaging, and photocatalysis. This review deals with the progress made in the last five years in the development of highly luminescent platinum complexes based on bidentate, tridentate, and tetradentate cyclometalating ligands. The ligand design and synthesis, general methods for the formation of cycloplatinated complexes, and their photophysical properties, in particular, the emission energy and photoluminescent quantum efficiency of the complexes, are discussed. The applications of the complexes in OLEDs, chemical sensing, biological imaging, and other fields are briefly covered.