With the emerging challenge of climate change and the continued escalation of energy demands, innovative and flexible fuel conversion technologies are necessary and gaining recognition. Chemical looping technologies have the potential to not only reduce energy costs, but also to mitigate carbon emissions. Historically, the general concept of this reduction–oxidation mechanism has been suggested, but the process was never commercialized. Recent interests in carbon capture techniques have revitalized the adaptive chemical looping system. Chemical looping technologies can utilize both gaseous and solid fuels such as natural gas and coal, respectively, for power, hydrogen, or chemical generation. However, the success of technological adoption requires a thorough understanding of the types of chemical looping techniques, the design considerations, and the reactor modes of configurations. Current large‐scale testing units are examined with the hope for near‐term advancement and future commercial application.