One of the most challenging problems in solid state systems is the microscopic analysis of electronic correlations. A paramount minimal model that encodes correlation effects is the Hubbard Hamiltonian, which—regardless of its simplicity—is exactly solvable only in a few limiting cases and approximate many‐body methods are required for its solution. In this review, an overview on the non‐perturbative two‐particle self‐consistent method (TPSC), which was originally introduced to describe the electronic properties of the single‐band Hubbard model, is presented. A detailed derivation of the multi‐orbital generalization of TPSC is introduced here and particular features of the method on exemplary interacting models in comparison to dynamical mean‐field theory results are discussed.