Oxyfuel combustion is one of the technologies for carbon dioxide (
CO
2
) capture and storage (
CCS
) in fossil‐fuel‐based power systems to mitigate global greenhouse gas (
GHG
) emissions. When introducing oxyfuel combustion into the power systems, physical and chemical processes of the combustion differ from conventional combustion, and the energy penalty for
CCS
has significant impacts on the system operation and performance, similar to combustion process, heat transfer, flue gas properties, and emission control. Around these topics, dozens of oxyfuel‐related projects were launched within this decade in the worldwide, and many techno‐economic assessments for oxyfuel technology including competitive technologies (pre‐/post‐combustion and emerging technologies) are continuously being published. Although the technologies for oxyfuel combustion are relatively well understood today, it is only investigated experimentally in lab and pilot‐scale combustion equipment. The estimated costs of electricity and
CO
2
avoidance costs are varied by uncertainties from economical assessments from different referenced databases and from restricted regulation of different countries and regions. Therefore, all addressed issues must be clarified and proved to be feasible deployment for the commercial scale
CCS
plants to cope with emission targets according to Copenhagen Accord to reduce
GHG
emission and mitigate world temperature rising.