Wide and ultra‐wide bandgap (UWBG) p‐type oxide semiconductors are gaining significant attention due to their unique optoelectronic properties, high thermal stability, large breakdown voltages, and potential for next‐generation device applications. The limited availability of high‐performance p‐type semiconductors has historically constrained optoelectronic advancements, but recent progress in p‐type metal oxides has opened new pathways for innovative technologies. This review explores the latest developments in p‐type wide and UWBG oxide semiconductors, emphasizing their role in emerging applications such as solar‐blind photodetectors, AI‐driven optoelectronic sensors, high‐power electronics, memristors, synaptic devices, and transparent electronics. The review highlights both theoretical and experimental advancements, offering insights into their future impact on optoelectronic and electronic industries.