The review is aimed in summarizing the most important aspects of the chemistry of 1,2,4‐trithiolanes, which form a relevant class of cyclic polysulfides abundant in nature. Some of them were identified as components of Lenthinus edodes (shiitaki mushrooms) extracts as well as of Parkia speciosa (stink bean), which are well known in Asian cuisine. In addition, they determine the flavor of boiled beef and roasted chicken. Thermal decomposition of 1,2,4‐trithiolanes, either in solution or in the gas phase, results in [3+2]‐cycloelimination leading to the release of reactive thiocarbonyl S‐sulfides existing in equilibrium with sulfur‐rich, three‐membered dithiiranes. Both, 1,2,4‐trithiolanes and the products of their decomposition react with low‐valent platinum and iron compounds forming the corresponding sulfur‐metal complexes. For example, iron‐sulfur clusters formed in these reactions are of interest as structural models of [Fe,Fe]‐hydrogenase mimics.