Developing halogen‐free flame retardants with reasonably high efficiency, which thus function at limited loadings in polypropylene‐based wood/plastic composites (WPC), is still a challenge. Cost‐effective flame‐retarded WPC have been identified as a way to open the door to an interesting, broader spectrum of application in the building and transportation sectors. This work imparts a systematic comprehensive understanding and assessment of different basic routes to halogen‐free flame‐retarded WPC, taking into account economic and environmental considerations. Cheap, halogen‐free single‐component flame retardants and their multicomponent systems are investigated at reasonable filling grades of 20 wt%. The basic routes of promising synergistic multicomponent systems are discussed, and their potential and limits assessed. Optimizing the consistency of fire residue; closing the surface of inorganic‐organic residual layers; the thermal stabilization and design of the residue, eg, synergistic combination of ammonium polyphosphate and expandable graphite; and the combination of different flame‐retardant mechanisms, eg, intumescence and flame inhibition, are proposed as promising routes to boost the flame‐retardant efficiency.