As water scarcity becomes a pending global issue, hygroscopic materials prove a significant solution. Thus, there is a good cause following the structure–performance relationship to review the recent development of hygroscopic materials and provide inspirational insight into creative materials. Herein, traditional hygroscopic materials, crystalline frameworks, polymers, and composite materials are reviewed. The similarity in working conditions of water harvesting and carbon capture makes simultaneously addressing water shortages and reduction of greenhouse effects possible. Concurrent water harvesting and carbon capture is likely to become a future challenge. Therefore, an emphasis is laid on metal–organic frameworks (MOFs) for their excellent performance in water and CO2 adsorption, and representative role of micro‐ and mesoporous materials. Herein, the water adsorption mechanisms of MOFs are summarized, followed by a review of MOF's water stability, with a highlight on the emerging machine learning (ML) technique to predict MOF water stability and water uptake. Recent advances in the mechanistic elaboration of moisture's effects on CO2 adsorption are reviewed. This review summarizes recent advances in water–harvesting porous materials with special attention on MOFs and expects to direct researchers’ attention into the topic of concurrent water harvesting and carbon capture as a future challenge.