Currently, increasing attention has been focused on light-emitting diodes (LEDs)-induced photopolymerization. The common LEDs (e.g., LED at 365 nm and LED at 405 nm) possess narrow emission bands. Due to their light absorption properties, most commercial photoinitiators are sensitive to UV light and cannot be optimally activated under visible LED irradiation. Although many photoinitiators have been designed for LED-induced free radical polymerization and cationic polymerization, there is still the issue of the mating between photoinitiators and LEDs. Therefore, the development of novel photoinitiators, which could be applied under LED irradiation, is significant. Many photoinitiating systems have been reported in the past decade. In this review, some recently developed photoinitiators used in LED-induced photopolymerization, mainly in the past 5 years, are summarized and categorized as Type Ⅰ photoinitiators, Type Ⅱ photoinitiators, and dye-based photoinitiating systems. In addition, their light absorption properties and photoinitiation efficiencies are discussed.