Dual-band electrochromism is a phenomenon where materials can independently regulate the transmittance of visible (VIS) and near-infrared (NIR) light. Owing to their bistability, low energy consumption, and independent control over VIS and NIR regions, dual-band electrochromic (EC) devices have been of great significance to fully harnessing VIS and NIR light and building an energy-saving society. The past several years have witnessed the efforts put in developing novel EC materials to improve their dual-band optical performance through altering their composition, structural, and physicochemical features, which determine the optical behavior of dual-band EC devices. In this review, the concept, significance, working principle, and key influence factors of dual-band electrochromism are briefly introduced. Next, the up-to-date progress of dual-band EC materials including inorganic, organic, and composites materials are summarized, with a focus on material design, device fabrication, and performance optimization. Finally, the challenges and perspectives of dual-band EC materials and devices are also presented.