The high reactivity and immediate accessibility of 1,3‐enynes render them versatile foundational units in the synthesis of highly valuable molecular structures, encompassing propargylic, allene, and diene compounds, in addition to carbo‐ and heterocyclic compounds. Transition‐metal catalyzed 1,4‐difunctionalization of 1,3‐enynes represents one of the most powerful approaches that has attracted the attention of chemists. In this review, the functionalization and annulation reactions of 1,3‐enynes under various transition metal‐catalyzed systems are highlighted.