Liquid chromatography, when used in conjunction with mass spectrometry (LC/MS), is a powerful tool for conducting accurate and reproducible investigations of numerous metabolites in natural products (NPs). LC/MS has gained prominence in metabolomic research due to its high throughput, the availability of multiple ionization techniques and its ability to provide comprehensive metabolite coverage. This unique method can significantly influence various scientific domains. This review offers a comprehensive overview of the current state of LC/MS‐based metabolomics in the investigation of NPs. This review provides a thorough overview of the state of the art in LC/MS‐based metabolomics for the investigation of NPs. It covers the principles of LC/MS, various aspects of LC/MS‐based metabolomics such as sample preparation, LC modes, method development, ionization techniques and data pre‐processing. Moreover, it presents the applications of LC/MS‐based metabolomics in numerous fields of NPs research such as including biomarker discovery, the agricultural research, food analysis, the study of marine NPs and microbiological research. Additionally, this review discusses the challenges and limitations of LC/MS‐based metabolomics, as well as emerging trends and developments in this field.