Thermal management involves precisely controlling temperatures in systems, devices, or electronic products to ensure optimal performance, stability, enhanced efficiency, and lifespan, which include high thermal conductivity, superthermal insulation, and active and passive heating. Carbon nanotubes (CNTs), known for their low density, high mechanical strength, and superior thermal and electrical conductivities, represent ideal materials for lightweight, high‐strength applications, showcasing extensive benefits and potential in intelligent thermal management. This review explores the use of CNTs in improving thermal conductivity, insulation, photothermal conversion, and electrical heating, underscoring their unique advantages and broad application prospects in smart thermal management systems. Specifically, the article outlines the advantages of CNT materials in elevating thermal efficiency, enhancing insulation characteristics, and increasing energy conversion rates, offering vital scientific and technical guidance for creating innovative, next‐generation thermal management materials. By systematically analyzing and forecasting, this review provides strategic direction for the research and development of high‐performance thermal management materials, heralding the significant role of CNT materials in future studies.