Over the past few decades, rising global concentrations of carbon dioxide (CO2) produced from excessive consumption of fossil fuels have become the main cause of the greenhouse effect around the world. Converting CO2 into solar fuel through photocatalysis is an effective solution to mitigate the greenhouse effect and energy crisis simultaneously. Increasingly attention has been paid on bismuth‐based photocatalytic CO2 reduction owing to the unique electronic structure of bismuth‐based photocatalysts. In recent years, researchers have made many breakthroughs in the bismuth‐based photocatalytic reduction of carbon dioxide. In this review, we summarize the structure of common bismuth‐based photocatalysts and focus on the recent progress of rational approach for optimizing catalysts loading, including morphology design, component regulation, facet engineering, doping, and defects engineering on the single bismuth‐based photocatalytic system, cocatalyst loading, heterojunction construction, localized surface plasmon resonance, and polarization. Finally, perspectives and opportunities are presented for future trends of CO2 photocatalytic conversion.