As percentages of elderly people rise in many societies, age‐related diseases have become more prevalent than ever. Research interests have been shifting to delaying age‐related diseases by delaying or reversing aging itself. We use metformin as an entry point to talk about the important molecular and genetic longevity‐regulating mechanisms that have been extensively studied with it. Then we review a number of observational studies, animal studies, and clinical trials to reflect the clinical potentials of the mechanisms in lifespan extension, cardiovascular diseases, tumors, and neurodegeneration. Finally, we highlight remaining concerns that are related to metformin and future anti‐aging research.