Xanthenones constitute one of the most important classes of the naturally occurring organic compounds produced by many microorganisms. They exhibit many biological activities e. g., antibacterial, analgesics, antipyretics, cofactors etc. Structurally, these are the linear tricyclic compounds usually having O‐heteroatom and carbonyl group. The xanthenone scaffold can be considered as a privileged structure as a lead for the search of new bioactive molecules. Being of pervasive importance, their synthesis by conventional thermal methods has been the subject of many studies. The recent strategies in synthetic organic chemistry concerning the synthesis of novel organic compounds having diverse applications mainly aims at improvement in atom as well as cost efficiency, avoidance of toxic reagents, and reduction in waste. In this context, photochemical reactions are relevant both from economical as well as from ecological point of view and also obey the demands of “green chemistry” or of an “ideal synthesis”. This article presents a review on the synthetic methodologies of the xanthenones‐ thermal (2012 onwards) and photochemical in addition to our own work on their synthesis.