As the demand for lithium‐ion batteries (LIBs) continuously grows, the necessity to improve their efficiency/performance also grows. For this reason, optimization of the individual production steps is critical. Calendering is a crucial production step whereby electrode coatings are compacted to targeted densities. This process affects the porosity, adhesion, thickness, wettability, and charge transport properties of the electrodes, as well as the homogeneity of the coatings. Optimal calendered electrodes improve volumetric energy density, cyclic stability, and rate capability of the cells and also enhance the structural stability of the active material, which affects electrode safety and polarization. This article outlines the fundamental processes and mechanisms, as well as how modeling, simulation, and tomography can be used to optimize these processes. Additionally, the influence of calendering on a wide range of anode and cathode active materials is discussed. This review serves to give a deeper understanding into the calendering process‐structure‐performance relationships, and how they can be optimized to improve the performance of LIBs.