Information‐theoretic analysis of the communication systems performances is of practical and theoretical importance. In this article, we study side information impact on physical layer security in a Rayleigh fading wiretap channel by deriving closed‐form expressions for the average secrecy capacity (ASC), secrecy outage probability (SOP), secrecy coverage region (SCR), and specifically, the asymptotic behavior of SOP. The results, while including previous works as special cases, show that side information has positive effects over ASC and SOP, and also, it increases the SCR, as expected intuitively. Numerical evaluations have been done to support the claims.