Recent studies have shown that mononuclear lanthanide (Ln) complexes can be high‐performing single‐molecule magnets (SMMs). Recently, there has been an influx of mononuclear Ln alkoxide and aryloxide SMMs, which have provided the necessary geometrical control to improve SMM properties and to allow the intricate relaxation dynamics of Ln SMMs to be studied in detail. Here non‐aqueous Ln alkoxide and aryloxide chemistry applied to the synthesis of low‐coordinate mononuclear Ln SMMs are reviewed. The focus is on mononuclear DyIII alkoxide and aryloxide SMMs with coordination numbers up to eight, covering synthesis, solid‐state structures and magnetic attributes. Brief overviews are also provided of mononuclear TbIII, HoIII, ErIII and YbIII alkoxide and aryloxide SMMs.