The indispensable requirement for sustainable development of human society has forced almost all countries to seek highly efficient and cost‐effective ways to harvest and convert solar energy. Though continuous progress has advanced, it remains a daunting challenge to achieve full‐spectrum solar absorption and maximize the conversion efficiency of sunlight. Recently, thermoplasmonics has emerged as a promising solution, which involves several beneficial effects including enhanced light absorption and scattering, generation and relaxation of hot carriers, as well as localized/collective heating, offering tremendous opportunities for optimized energy conversion. Besides, all these functionalities can be tailored via elaborated designs of materials and nanostructures. Here, first the fundamental physics governing thermoplasmonics is presented and then the strategies for both material selection and nanostructured designs toward more efficient energy conversion are summarized. Based on this, recent progress in thermoplasmonic applications including solar evaporation, photothermal chemistry, and thermophotovoltaic is reviewed. Finally, the corresponding challenges and prospects are discussed.