The rapid advancement of main group III–V nanomaterials endows photodetectors (PDs) with enhanced performance. At present, various III–V nanomaterials are systematically investigated, whereof III–V semiconductors have attracted a successively increased attention that calls for a comprehensive summary which also can define the state‐of‐art for their further development. Herein, this work systematically introduces and discusses key aspects of the field. First, the advanced strategies for the preparation of III–V semiconductor materials and the device structures of the subsequent PDs based on these materials, pristine and doped, are addressed. The focus is then turned to their performance under the irradiation of various wavelengths, separately summarizing and comparing the photodetection properties under infrared, UV and visible light. Finally, challenges and future perspectives of III–V semiconductor‐based PDs are highlighted. This review enlightens the development of III–V semiconductor‐based PDs, and their extended applications for optoelectronic devices in general.