The structural and morphological characterization of individual catalyst particles for olefin polymerization, as well as for the reverse process of polyolefin decomposition, can provide an improved understanding for how these catalysts operate under reaction conditions. In this review, we discuss an emerging toolbox of chemical imaging techniques that is suitable for investigating the chemistry and reactivity of related catalysts. While synchrotron‐based X‐ray microscopy still provides spatial resolutions in 2D and 3D, a number of laboratory‐based techniques, most notably focused ion beam‐scanning electron microscopy, confocal fluorescence microscopy, infrared photoinduced force microscopy and laboratory‐based X‐ray nano‐computed tomography, have helped to expand the arsenal of tools available to scientists in catalysis and polymer science. In terms of future research, the review outlines the role and impact of in situ and operando (spectro‐)microscopy experiments, involving sophisticated reactors as well as online reactant and product analysis, to obtain real‐time information on the formation, decomposition, and mobility of polymer phases within catalyst particles. Furthermore, the potential of fluorescence, X‐ray and optical microscopy is highlighted for the high‐throughput characterization of olefin polymerization and polyolefin decomposition catalysts.