This chapter summarizes the major advances in aqueous‐phase reduction made in the past several years. The coverage includes water‐soluble ligands and catalysts, hydrogenation, and transfer hydrogenation, drawing examples from both achiral and chiral reactions, and a brief discussion of the role of water. Various functional groups are featured, including CC, CO, CN, CO
2
, and arenes. Although homogeneous metal catalysts are the focal point, examples of heterogeneous reduction are also highlighted, as are biomimetic catalysts.