The functional components in tea confer various potential health benefits to humans. To date, several special tea products featuring functional components (STPFCs) have been successfully developed, such as O‐methylated catechin‐rich tea, γ‐aminobutyric acid‐rich tea, low‐caffeine tea, and selenium‐rich tea products. STPFCs have some unique and enhanced health benefits when compared with conventional tea products, which can meet the specific needs and preferences of different groups and have huge market potential. The processing strategies to improve the health benefits of tea products by regulating the functional component content have been an active area of research in food science. The fresh leaves of some specific tea varieties rich in functional components are used as raw materials, and special processing technologies are employed to prepare STPFCs. Huge progress has been achieved in the research and development of these STPFCs. However, the current status of these STPFCs has not yet been systematically reviewed. Here, studies on STPFCs have been comprehensively reviewed with a focus on their potential health benefits and processing strategies. Additionally, other chemical components with the potential to be developed into special teas and the application of tea functional components in the food industry have been discussed. Finally, suggestions on the promises and challenges for the future study of these STPFCs have been provided. This paper might shed light on the current status of the research and development of these STPFCs. Future studies on STPFCs should focus on screening specific tea varieties, identifying new functional components, evaluating health‐promoting effects, improving flavor quality, and elucidating the interactions between functional components.