The transformation of alcohols to important classes of compounds is a central topic in chemistry because they are abundant, renewable, and attractive building blocks. The alkali‐mediated/catalyzed borrowing hydrogen and aerobic dehydrogenation processes of alcohols open a new and sustainable access for the alcohol conversion under transition‐metal‐free conditions. In this review, we summarize the recent alkali‐mediated/catalyzed sequential reactions involving the borrowing hydrogen and aerobic dehydrogenation processes of alcohols. Furthermore, this review not only introduces the tentative pathways of these transformations, but also discusses the role of alkali, solvent effects, and substrate reactivity on these reactions.