Microcellular plastics are typically thermoplastic polymers with a large number (∼billions per cm3) of tiny bubbles (of the order of 10 μm in diameter). Their densities can range from 3% to 95% of the solid polymer depending on the volume taken by the bubbles (which are denoted as cells in this paper). In general, microcellular plastics exhibit superior impact strength, toughness, fatigue life, thermal stability, dielectric strength, thermal and acoustical insulation performance, as well as optical properties, relatively to the solid counterparts. Other advantages of microcellular plastics include higher productivity due to its faster processing times and sink‐mark free injection‐molded parts with no residual stress and high dimensional stability. Owing to these unique properties, there are a large number of applications of microcellular plastics, particularly in automotive industries. This article summarizes the science and technology of microcellular plastics. To be specific, their history, science (ie, generation of polymer–gas solution, cell nucleation, growth, deterioration and stabilization), solid‐state processing technologies, continuous processing technologies (ie, extrusion and injection molding), design guidelines of each processing technologies, as well as the properties and application of microcellular plastics, are discussed in detail.