Colloidal semiconductor nanocrystals (NCs), especially cadmium (Cd)‐ and lead (Pb)‐containing ones, have been proved to be the promising materials for photoelectronic energy conversion applications. However, the high toxicity and cost of these materials restrict their widespread use. Zinc (Zn)‐containing colloidal semiconductor NCs are non‐/less toxic and environmentally friendly materials, manifesting in stimulating optical and electronic properties with relevance to a broad scope of applications including light‐emitting diodes (LEDs), sensors, photocatalysts, and more. In this Review, we elaborate on the shape control of Zn‐containing colloidal semiconductor NCs achieved by a variety of wet‐chemical synthetic approaches. Moreover, the formation of core‐shell, doped, and hybrid structures based on Zn‐containing colloidal semiconductor NCs allow for the optimization of their functionalities, which underpin stimulating photoelectronic energy conversion applications in quantum‐dot LEDs (QLEDs), photodetectors, and photocatalysis. Zn‐containing colloidal semiconductor NCs that combine the green chemistry with sustainable developments possess a bright future.