As the quest for active photonic devices continues, materials with exotic and exploitable properties have become paramount to enable new advancements. In recent years, phase‐change materials (PCMs) have emerged as an exciting option that open new gateways for both fundamental physics and material science research, while also being applicable to actively tunable photonic devices. One PCM in particular, vanadium dioxide (VO2), has gained a lot of attention due to its interesting reversible insulator‐to‐metal transition that comes along with a drastic change in its optical properties. In this review, starting with a brief description and explanation of the origin of the exciting optical characteristics of VO2, we then present examples of the latest research trends of VO2 in photonic applications. This includes manipulation of the reflection, transmission, and absorption of light to produce color filters and near‐infrared perfect absorbers, as well as applications of telecommunications modulators, and we round up with applications in the energy field, in smart windows and adaptive radiative cooling. We conclude with a discussion about our views on the future perspectives for VO2 platforms in active photonic devices.