During the 1990s, light‐emitting diodes (LEDs) have been developed, in which the semiconducting, electroluminescent (EL) material is a polymer. These devices, usually referred to as polymer LEDs, or PLEDs, have attracted significant attention in academic and industrial environment, as reflected by the already more than 5000 scientific publications and numerous patents that address this subject. This article presents an overview of fundamental concepts, with focus on the application of PLEDs. Device physics and general device design, as well as materials concepts, have been addressed. Furthermore, the development of EL polymer systems is discussed based on important key design considerations. Finally, the perspectives for the technological exploitation of PLEDs are elucidated.