This article presents a comprehensive review of recent progress of research dedicated to low‐dimensional nanomaterials constructed from functional low‐molecular‐weight organic compounds, whose optoelectronic properties are fundamentally different from those of their inorganic counterparts. After introducing the development of inorganic and organic macromolecular nanomaterials, we begin with a general review of the construction strategies for achieving both zero‐dimensional (0D) and one‐dimensional (1D) nanostructures from small organic functional molecules. We then provide an overview of the unique optoelectronic properties induced by molecular aggregation in the nanostructures. Special emphasis is put on the luminescent properties that are different from those of the corresponding bulk materials, such as aggregation‐induced enhanced emission, fluorescence narrowing, multicolor emission, and tunable and switchable emissions from doped nanostructures. We conclude with a summary and our personal view of the direction of future development of organic opto‐functional nanomaterials and devices.