Photocatalytic conversion of low‐concentration CO 2 offers a sustainable energy and environmental solution, yet the insensitivity of conventional catalysts to low‐concentration CO 2 remains a critical limitation. This article provides a systematic summary of recent advances in catalyst design strategies for low‐concentration CO 2 conversion, categorized into C 1 and C 2 product pathways. Despite significant progress in catalysts development, substantial challenges remain in translating laboratory achievements to industrial‐scale applications. Herein, critical perspectives on future research directions to bridge the gap between fundamental research and practical implementation in this emerging field are provided.