Harnessing light for magnetization control presents a promising approach with compelling merits such as non‐contact operation, ultrafast response, reversibility, high spatial resolution, tunability, and energy efficiency. Photoinduced metal‐to‐metal charge transfer (MMCT) is one key mechanism in achieving photo‐controlled magnetic properties, making relevant materials prime candidates for versatile switchable devices. Cobalt iron Prussian blue analogues (CoFePBA) are trailblazers in showcasing photomagnetic properties via MMCT and the numerous related studies on CoFePBA have significantly enhanced the understanding of photoinduced MMCT processes. Thus, this review embarks on a thorough examination of three decades of research on the photomagnetic of CoFePBA to deep into the art of the photocontrol of spin. In addition to an introduction to the structure and preparation of CoFePBA, the focus is on elucidating the underlying mechanisms and introducing strategies for its manipulation and control. Finally, the challenges and prospects at this moment are summarized and discussed.