Polyhedral oligomeric silsesquioxane (POSS)‐based coatings have attracted significant attention from academia and industry over the past decades. The three‐dimensional nano‐sized cage with alternating SiO bonds forms the inorganic core of POSS molecules, while organic functional groups are covalently attached to the Si vertices. With this unique structure, they can be integrated with polymers via different approaches, including physical blending, covalent grafting, and chemical cross‐linking. And the inorganic/organic hybrid nature of POSS offers the coating materials with desirable mechanical, anti‐wetting, anti‐corrosive, icephobic, and fire‐retardant properties. This review focuses on the state‐of‐the‐art developments of POSS‐based functional coatings, while their challenges and future research directions are also discussed.