This article reviews advances in the development of subwavelength plasmonic two‐conductor waveguides. First, the properties of two‐dimensional (2D) plasmonic two‐conductor waveguides, which are commonly referred to as metal–dielectric–metal (MDM) waveguides, are discussed. This is followed by a review of the properties of three‐dimensional (3D) plasmonic two‐conductor waveguides, such as plasmonic slot waveguides and plasmonic coaxial waveguides. Following the discussion of plasmonic two‐conductor waveguiding geometries, the properties of components based on these waveguides are reviewed. More specifically, we focus on bends and splitters that are essential components of optical integrated circuits. The properties of such bends and splitters in 2D and 3D plasmonic two‐conductor waveguides are discussed. Finally, the fabrication and optical characterization methods for 2D and 3D plasmonic two‐conductor waveguides are presented.