Quadrupole Inductively Coupled Plasma Mass Spectrometry (ICP‐MS) instruments were introduced into geochemical and mineral exploration laboratories nearly four decades ago, providing a technique that could meet their longstanding requirement for the precise and accurate determination of several groups of trace elements and isotopes in geological materials such as rocks, minerals, ores, soils, sediments, and natural water samples. Despite its popularity among geochemists, the technique suffered from spectral and non‐spectral interferences some of which seriously affected the quality of the data generated. These interferences have also had a significant impact on the ability of ICP‐MS systems to achieve low detection limits. Over the last three decades, technical advances such as the development of high‐resolution (HR)‐ICP‐MS, cool plasma, collision/reaction cell technology (CCT), dynamic reaction cell (DRC) technology, collision reaction interface (CRI), kinetic energy discrimination (KED), tandem mass spectrometry (ICP‐MS/MS)/triple quadrupole ICP‐MS, and multi‐quadrupole ICP‐MS have been introduced to eliminate/minimize many of these interferences, with each technique having its strengths and limitations. These technologies have extended the range of elements that can be measured accurately not only in geological materials, but also in several other matrices, with lower detection limits than before. In addition, other methods such as internal standardization, isotope‐dilution, standard addition and matrix‐matching calibrations have contributed to improving the quality of the data. This paper provides a review of these new developments from the geochemical analysis point of view.