In situ gel systems have emerged as promising drug delivery platforms due to their numerous benefits, including increased patient compliance and decreased administration frequency. The potential of in situ gel extends beyond its formulation benefits, with the ability to transform medical treatment by enhancing drug delivery, offering personalized therapies, and introducing innovative approaches. Ongoing research and the efforts of pharmaceutical companies are dedicated to exploring the vast opportunities presented by in situ gel, pushing the limits of innovation in the field of drug delivery. The selection of suitable polymers is critical for the development of in situ gel formulations. Additionally, consideration of drug‐polymer compatibility ensures the stability and efficacy of the drug within the gel matrix. Formulation considerations play a pivotal role in the development of effective in situ gel systems. They have shown great potential in drug delivery systems, tissue engineering, and regenerative medicine. The ability to prolong gastric retention time, targeted delivery, and localized drug release are among the advantages offered by in situ gels. Although in situ gel technology has shown significant advancements, challenges remain, including stability and shelf‐life issues, biocompatibility and safety concerns, and the need for further research and development. Future directions focus on overcoming these challenges and exploring new applications and advancements in the field. In conclusion, in situ gel systems provide a versatile and promising drug delivery and tissue engineering platform. However, further research and development are essential to address the challenges and fully harness the potential of this innovative technology.