Energetic oxetanes, a group of energetic binders (EBs), are the focus of this review. We briefly introduce the role of binders and the difference between EBs and traditional “non-energetic” polymer binders, followed by a discussion of the synthesis and key properties of polyoxetanes. Priority is given to recent works, but a long-term perspective is provided where necessary, to illustrate the development of this field and the most relevant emerging trends. New reports on methods of obtaining oxetane polymers are presented; concerning the possibility of using a new catalyst, water: Al(C4H9)3, or the ratio of comonomers on the properties of the obtained binders. The synthesis of copolymers with the use of polymers with an oxetane ring and polyethers, polybutadiene terminated with hydroxyl groups and poly (3-difluoroaminomethyl-3-methyloxetane) is discussed. The latest developments in crosslinking reactions and crosslinking agents used are also described. The primary challenges faced by the field are identified and a perspective on the future development of polyoxetane EBs is presented.