Insect viruses have long been recognized for their potential as biological control agents in managing agricultural pests. Despite their promise, challenges such as host specificity, virulence, and limited viral resources have hindered their widespread application. The need for efficient discovery and utilization of insect viruses is paramount for sustainable agricultural practices. With the introduction of high‐throughput sequencing (HTS) technologies, the discovery and identification of new insect viruses have been significantly accelerated, enriching the available resources for pest management. Furthermore, advancements in reverse genetics tools have enabled the development of multifunctional viral expression vectors, enhancing the specificity and efficacy of insect viruses against targeted pests. This review provides a comprehensive overview of the methodologies for insect virus identification using HTS and the potential of genetically modified insect viruses in pest control. Genetically engineered insect viruses offer a promising avenue for targeted and efficient pest management. While HTS technologies have revolutionized the discovery of insect viruses, challenges remain. Addressing these challenges and harnessing the potential of these technologies will be pivotal in shaping sustainable agricultural management strategies in the future.This article is protected by copyright. All rights reserved.