Luminescent solar concentrators (LSCs) are complementary sunlight collectors for photovoltaics (PVs). Emissive fluorophores embedded in a transparent waveguide collect solar radiation over a large area and convert it into luminescence directed to the PV cells that frame the waveguide's edges. Among various fluorophores, perovskite nanocrystals (PNCs) show considerable potential for LSCs thanks to their wide size/composition/shape tunable broad absorption spectrum ranging from UV to near‐infrared, which significantly overlaps with the solar spectrum. They also feature high brightness with a photoluminescence quantum yield of up to 100% and ease of fabrication through wet chemistry approaches. In addition, PNCs can be engineered to minimize the absorption/emission overlap, which is the key to suppressing energy losses caused by reabsorption. Here, the structure and properties of PNCs and then correlate them with LSC performance is presented. The synthesis of PNCs using wet‐chemistry approaches and summarize the latest developments of PNCs‐based LSCs, categorized by the engineering strategies of PNCs and the design of the LSC configurations is critically reviewed. Finally, it is described major challenges and perspectives for future work, outlining the rational design, synthesis, PNC loading, surface engineering, and machine‐learning‐based tuning of PNC‐LSC.