The self‐assembly process of block copolymers (BCPs) in solution has been at the focus of extended scientific research over the past several decades owing to the astonishing morphological diversity and attainable complexity of the resulting nanoassemblies, including spheres, cylinders, lamellae, vesicles, and many other complex, bicontinuous or even hierarchical structures. The ever‐increasing sophistication in the development of synthetic chemistry methods and techniques has led to a myriad of available macromolecules with varying chemical compositions, architectures, features, and properties. This assortment of characteristics has led in turn to a plethora of intriguing self‐organized polymeric nanostructures, with countless possible applications in several nanotechnological fields relevant to physics, chemistry, material science, nanomedicine, and biomaterials. The present review aims to illuminate the importance and fascinating potential of BCPs solution self‐assembly by highlighting recent advances and emerging trends in the field, as well as significant application‐oriented progress, through characteristic contemporary examples.