The ferroelectric liquid crystals, because of their fast electro‐optical response, are one of the most important classes of liquid crystals. Here, in this review, we have summarized the different electro‐optical modes for ferroelectric liquid crystals. Clark–Lagerwall effect (surface stabilized ferroelectric liquid crystal), deformed helix ferroelectric (DHF) effect, electrically suppressed helix (ESH) mode, DHF orientational Kerr effect, and ESH diffraction modes have been discussed. All of the crucial features, that is, optics, electro‐optics, dynamics, and their dependence on material parameters, operational regime, and applications, have been reviewed.