Abstract The explosive growth of artificial intelligence, big data, and the Internet of Things is driving an unprecedented demand for computing power and energy efficiency. However, conventional von Neumann architectures are increasingly constrained by the physical and economic limits of transistor scaling in the post‐Moore era. Ferroelectric transistors (FeFETs) are far more than a novel memory technology and instead represent a revolutionary platform that seamlessly integrates nonvolatile storage, in‐memory computation, and multi‐modal sensing into a single, energy‐efficient device, overcoming the bottlenecks of traditional computing architectures. This review provides a comprehensive overview of ferroelectric materials, including perovskite oxides, hafnium‐based compounds, organics, and emerging 2D systems, emphasizing their polarization original mechanisms and structureproperty relationships. This study focuses on the device physics and engineering of three terminal FeFETs, with particular attention to the current issues, optimization strategies, and contrasting operation principles of ferroelectric dielectric and semiconductor‐based designs. Finally, the expanding applications of FeFETs in nonvolatile memory, neuromorphic computing, and artificial intelligence hardware from device to system integration is discussed, and an outlook toward scalable, low‐power, and multifunctional electronics driven by ferroelectric innovation is presented.