All‐small‐molecule organic solar cells (ASM‐OSCs) have received tremendous attention in recent decades because of their advantages over their polymer counterparts. These advantages include well‐defined chemical structures, easy purification, and negligible batch‐to‐batch variation. Remarkable progress with a power conversion efficiency (PCE) of over 17% has recently been achieved with improved charge management (FF × JSC) and reduced energy loss (Eloss). Morphology control is the key factor in the progress of ASM‐OSCs, which remains a significant challenge because of the similarities in the molecular structures of the donors and acceptors. In this review, we summarize the effective strategies for charge management and/or Eloss reduction from the perspective of effective morphology control. We aim to provide practical insights and guidance for material design and device optimization to promote further development of ASM‐OSCs to a level where they can compete with or even surpass the efficiency of polymer solar cells.This article is protected by copyright. All rights reserved