Electron‐precise B−B bonded compounds are valuable reagents in organic syntheses, which can be used as key starting material for the synthesis of functionalized organoboranes. Bis(pinacolato)diborane(4) B2pin2 and its derivatives are among the most studied diboron species. However, their B−B bonds usually need to be activated by transition metal catalysts or bases for further transformations. Recently, many well‐designed/reactive electron‐precise B−B bonded compounds have been developed, which could facilitate direct reactions with small molecules, unsaturated substrates, and electrophiles. This review highlights the synthesis, structure, and reactivity of neutral and anionic B−B bonded compounds.