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Abstract Lead halide perovskite nanomaterials are among the forefront of developing materials for energy harvesting and light‐emitting applications. Their unique defect tolerance, high photoluminescent quantum yields, and vast synthetic tunability make them attractive for many optoelectronic applications. In this review article, the broad synthetic toolbox of these materials is discussed, including how synthetic conditions can tune the optical properties and dimensionality of the resulting perovskite nanomaterial. Additionally, we discuss the brief history, current state, and bright future of these materials, in tune with their optoelectronic applications, namely in light‐emitting diodes, lasing, photovoltaics, photon interconversion applications, and in photodetectors.