Thyroid diseases are increasingly prevalent, posing significant challenges to patients’ quality of life and placing substantial financial burdens on families and society. Despite these impacts, the underlying pathophysiology of many thyroid conditions remains poorly understood, complicating efforts in treatment, management, and prevention. Observational studies can identify associations between exposure variables and disease; however, they often struggle to account for confounding factors and reverse causation. Understanding disease occurrence, epidemiological trends, and clinical diagnosis, prevention, and treatment relies heavily on robust etiological research. Mendelian randomization, a method grounded in genetics and epidemiology, has been widely employed in studying the etiology of thyroid diseases, offering a solution to some of these challenges. This paper categorizes thyroid diseases into thyroid dysfunction and thyroid cancer, reviewing related Mendelian randomization studies. It further provides novel perspectives and approaches for investigating the mechanisms underlying thyroid diseases and designing intervention strategies.