Low‐plasticity burnishing (LPB) has been widely used in various industries. In the LPB process, when the ball moves on the material surface, plastic deformation or cold working occurs in the burnished region. Through this process, not only can LPB improve the surface integrity of metallic material components by replacing polishing in some situations, but it can also improve fatigue performance thanks to the low work hardening and the beneficial compressive residual stress (CRS). So far, extensive research has demonstrated the influence of the LPB process on surface integrity and service performance of different metallic materials, such as titanium alloys, aluminum alloys, magnesium alloys, nickel‐based superalloys, stainless steels, and carbon steels. Recent years have witnessed many innovative LPB processes and novel applications. Herein, the working principle of the LPB process is first restated. Following that, how LPB strengthens the material surface and thereby influences the mechanical performance, including the surface quality, residual stress, microstructure, microhardness, fatigue, and wear performance, is reviewed. Furthermore, the difference of surface‐strengthening effect among LPB and other surface mechanical strengthening processes is compared. Finally, the current challenges to LPB are discussed and some suggestions on its development directions are put forward.