The Asian corn borer Ostrinia furnacalis (Lepidoptera: Crambidae) is a serious corn pest with widespread distribution in East Asia. Its olfactory mechanism is a focus of scientific study, aiming to find good ways to control this pest. Molecular events are considered to be important in olfactory mechanism. Current understandings of olfactory molecular events in O. furnacalis, mainly involving sex pheromones and olfactory proteins, were summarized to provide a reference for further studies. O. furnacalis sex pheromone contains two components E‐12‐tetradecenyl acetate and Z‐12‐tetradecenyl acetate, which may be recognized and bound by the pheromone binding proteins OfurPBP3 and OfurPBP2, and then transported to the odorant receptors (ORs) OfurOR4 and OfurOR6 to activate them. The ORs OfurOR8, OfurOR7 and OfurOR5b mainly respond to the sex pheromone components of other Ostrinia species, E‐11‐tetradecenyl acetate, Z‐11‐tetradecenyl acetate and Z‐9‐tetradecenyl acetate. The OR OfurOR27 responds strongly to plant odorants nonanal, octanal and 1‐octanol. Much work remains to be done to fully understand odorants with olfactory activity to O. furnacalis and the functions of its olfactory proteins. These studies will help to reveal olfactory mechanism in O. furnacalis, with the aim of regulating its behaviors to control this pest.