Plasmonic nanogaps in strongly coupled metal nanostructures can confine light to nanoscale regions, leading to huge electric field enhancement. This unique capability makes plasmonic nanogaps powerful platforms for boosting light–matter interactions, thereby enabling the rapid development of novel phenomena and applications. This review traces the progress of nanogap systems characterized by well‐defined morphologies, controllable optical responses, and a focus on achieving extreme performance. The properties of plasmonic gap modes in far‐field resonance and near‐field enhancement are explored and a detailed comparative analysis of nanogap fabrication techniques down to sub‐nanometer scales is provided, including bottom‐up, top‐down, and their combined approaches. Additionally, recent advancements and applications across various frontier research areas are highlighted, including surface‐enhanced spectroscopy, plasmon‐exciton strong coupling, nonlinear optics, optoelectronic devices, and other applications beyond photonics. Finally, the challenges and promising emerging directions in the field are discussed, such as light‐driven atomic effects, molecular optomechanics, and alternative new materials.