Selective conversion of specific functional groups to desired products is highly important but still challenging in industrial catalytic processes. The adsorption state of surface species is the key factor in modulating the conversion of functional groups, which is correspondingly determined by the uniformity of active sites. However, the non‐identical number of metal atoms, geometric shape, and morphology of conventional nanometer‐sized metal particles/clusters normally lead to the non‐uniform active sites with diverse geometric configurations and local coordination environments, which causes the distinct adsorption states of surface species. Hence, it is highly desired to modulate the homogeneity of the active sites so that the catalytic transformations can be better confined to the desired direction. In this review, the construction strategies and characterization techniques of the uniform active sites that are atomically dispersed on various supports are examined. In particular, their unique behavior in boosting the catalytic performance in various chemical transformations is discussed, including selective hydrogenation, selective oxidation, Suzuki coupling, and other catalytic reactions. In addition, the dynamic evolution of the active sites under reaction conditions and the industrial utilization of the single‐atom catalysts are highlighted. Finally, the current challenges and frontiers are identified, and the perspectives on this flourishing field is provided.