The widespread use of diesel engines results in significant environmental contamination due to emitted pollutants, particularly soot particles. These pollutants are detrimental to public health. At present, one of the most effective ways to remove soot particles is the catalytic diesel particulate filter after‐treatment technology, which requires the catalyst to have superior low temperature activity. Compared with cerium oxide which is widely used, cobalt oxide in transition metal oxides has been widely studied in recent years because of its high redox ability and easy to control morphology. This paper elaborates on the influence of modification techniques such as doping, loading, and solid solution on the catalytic performance of cobalt‐based catalysts in soot oxidation. Along the same lines, it further reviews the research progress on cobalt‐based oxide catalysts with specific dimensional structures and morphologies in soot oxidation. Finally, it provides an outlook on the challenges faced by the theoretical basis and applied research of cobalt‐based catalysts in soot oxidation.