As a representative class of sustainable polymer materials, biodegradable polymers have attracted increasing interest in recent years. Despite significant advance of related polymerization techniques, realizing high sequence‐control and easy‐handling in ring‐opening (co)polymerizations still remains a central challenge. To this end, a promising solution is the development of valence‐variable metal‐based catalysts for redox‐induced switchable polymerization of cyclic esters, cyclic ethers, epoxides, and CO2. Through a valence‐determined electron effect, the switch between different catalytically active states as well as dormant state contributes to convenient formation of polymer products with desired microstructures and various practical performances. This redox‐controlled switchable strategy for controlled synthesis of polymers is overviewed in this Review with a focus on potential applications and challenges for further studies.