The synthesis and study of colloidal molecules, that is to say clusters of a small number of colloidal entities that resemble the configuration of atoms in molecules both in constituent size and angular arrangement to that of valence shell electron pair repulsion model‐related space‐filling geometries, are of continued and significant interest. The rapid development in this research area has attracted intense interest from researchers with diverse expertise, and numerous methods towards the synthesis of colloidal molecules have been reported. In this Minireview, we attempt to give an overview of these latest developments, classifying them in processes based on controlled phase separation phenomena, on controlled surface nucleation and growth, and on controlled clustering. We also discuss the potential use of colloidal molecules as building blocks to fabricate new hierarchically organized superstructures and functional materials.