BackgroundThe severe acute respiratory syndrome coronavirus (SARS‐CoV‐2) outbreak in 2019 has necessitated investigating its potential adverse effects on pregnancy outcomes and fetal development.ObjectiveThis study aimed to review the evidence on the impact of SARS‐CoV‐2 infection during pregnancy on fetal outcomes.Method of StudyLiteratures since the outbreak of COVID‐19 from PubMed and Web of Science were summarized in this narrative review, to show the effects of maternal SARS‐CoV‐2 infection during pregnancy on fetal development.ResultsSARS‐CoV‐2 infection during pregnancy can be transmitted vertically through the placenta, both in utero and perinatally, affecting the maternal–fetal immune interface and placental function. Viral infections during pregnancy have been linked to central nervous system development impairments and disorders such as autism. Changes in the structure and function of the respiratory, immune, and visceral systems have also been reported. SARS‐CoV‐2 infection during pregnancy has been linked with increased risks of stillbirth and preterm birth. However, the mechanisms involved remain unclear and may include cytokine storms, macrophage mediation, genetic mutations, methylation, and other epigenetic changes. Exploring the protective effects of antiviral treatment and other interventions in animal and clinical studies may help improve outcomes.ConclusionSARS‐CoV‐2 infection during pregnancy activates the maternal–fetal immune interface through vertical transmission, and has short‐ and long‐term effects on fetal development, including the central nervous system. Future long‐term studies may help provide evidence that can inform interventions to reduce the risk of adverse outcomes.