Lignocellulose‐mediated liquid metal (LM) composites, as emerging functional materials, show tremendous potential for a variety of applications. The abundant hydroxyl, carboxyl, and other polar groups in lignocellulose facilitate the formation of strong chemical bonds with LM surfaces, enhancing wettability and adhesion for improved interface compatibility. Beyond serving as a supportive matrix, lignocellulose can be tailored to optimize the microstructure of the composites, adapting them for diverse applications. This review comprehensively summarizes the fundamental principles and recent advancements in lignocellulose‐mediated LM composites, highlighting the advantages of lignocellulose in composite fabrication, including facile synthesis, versatile interactions, and inherent functionalities. Key modulation strategies for LMs and innovative synthesis methods for functionalized lignocellulose composites are discussed. Furthermore, the roles and structure–performance relationships of these composites in electromagnetic shielding, flexible sensors, and energy storage devices are systematically summarized. Finally, the obstacles and prospective advancements pertaining to lignocellulose‐mediated LM composites are thoroughly scrutinized and deliberated upon. This review is expected to provide basic guidance for researchers to boost the popularity of LMs in diverse applications and provide useful references for design strategies of state‐of‐the‐art LMs.