The Friedel−Crafts (F−C) reaction has been a fundamental pillar of both academic and industrial synthetic organic chemistry since its discovery in 1873. Its success is based on the versatility and applicability of F−C reactions for a wide range of substrates, and there have been an impressive number of publications and patents describing catalytic F−C reaction methods. The asymmetric version of the reaction was discovered about 100 years after the seminal work by Friedel and Crafts and has become a major area of research. While chemical methods with much-improved efficacies and scopes have been discovered, F−C reactions still suffer from limitations. Biocatalysis has the potential to be the best solution to this challenge because of the excellent selectivity (enantio-, chemo-, and regioselectivity) displayed by enzymes. In the last two decades, advancements in molecular biology techniques, bioinformatics, high-throughput screening, directed evolution, and process scale-up have led to biocatalysis becoming a mature field. It is therefore not surprising that researchers around the globe have developed several biocatalysts for asymmetric F−C reactions. Herein, we review recent developments in the design and use of catalytic and stereoselective strategies for performing the asymmetric F−C reactions.