Cerebral organoids are three‐dimensional (3D) aggregates with a more advanced composition, maturation, and architecture. It has emerged as a novel and sophisticated model system for studying neurodevelopment and neurological disorders, in comparison to conventional two‐dimensional (2D) cell cultures. However, due to the extraordinarily complex nature of brain development, current cerebral organoids are not as functional and mature as brains. The development of cerebral organoids requires a culture system with sufficient developmental patterning factors, essential cell components, and vasculature. In this review, the critical factors and events that contribute to the development of cerebral organoids are focused on. The advanced design, fabrication techniques, and technologies are also discussed to enhance the application potential of cerebral organoid technology.