The global population is placing unprecedented demand on food systems, which can be met only through a complex interplay of technology, sustainable food production intensification methods and climate resilience. To address such compounded requirements, developing high‐yielding crop varieties using precise plant breeding methods bolstered with efficient and nondestructive plant trait documentation approaches is vital. High‐throughput crop phenotyping (HTCP) platforms have prominently emerged as a mainstream approach for reducing the phenotyping bottleneck in breeding programmes. HTCP has the potential to provide detailed quantitative information of large plant populations under different growth stages across diverse environmental regimes, facilitating accelerated plant breeding strategies. New imaging platforms also enable nondestructive characterization of a wide range of above and below‐ground crop parameters. The specificity in use of sensors, automation of data collection, large‐scale data handling systems and accurate analytical tools have a substantial role in dynamic crop monitoring and big data interpretation. HTCP platforms are capable of making precise measurements of a wide range of physiological, morphological, biochemical and stress responses in plants. Developments of sensors with improved precision, intervention of unmanned aerial vehicles, robotics, computed tomography and machine learning have given a dramatic developmental leap to precise and large‐scale crop phenotyping. This review provides an avenue for understanding various high‐throughput phenotyping platforms, working principles, current developments and contributions to high‐throughput phenotyping of various crops under laboratory and field conditions. A detailed comparative idea on the advantages and pitfalls of these available platforms can help researchers in choosing the right technology suiting specific practical requirements. Furthermore, the review aims to provide novel future prospects and developmental requirements that can potentially widen the application and utilization of these HTCP technologies in agriculture.