ABSTRACT Skin aging is a complex biological process driven by the dynamic interplay of cellular senescence, molecular dysfunction, and microenvironmental remodeling. The aging microenvironment acts as both a consequence and a driver of skin aging, creating a vicious cycle that exacerbates inflammation, oxidative stress, and barrier dysfunction. An in‐depth exploration of the aging skin microenvironment plays a revolutionary role in the field of skin anti‐aging and holds promise for the discovery of novel and feasible targets for skin anti‐aging. This review systematically elaborates the aging skin microenvironment through a framework of six interconnected components: (1) inflammaging and immune cell dysfunction, (2) extracellular matrix dysregulation, (3) intercellular communication and extracellular vesicles defect, (4) physical microenvironmental alterations, (5) stem cell exhaustion, and (6) microbiome dysbiosis. These components collectively establish a self‐reinforcing network that perpetuates structural degradation, functional decline, and impaired regenerative capacity.