Myopia has shown a rapid increase during the past decades around the world, posing great threat to ocular health. Myopia is mostly attributed to an overgrowth of the axial length of the eye, which is an abnormal growth of the sclera that is attributed to a series of environmental and genetic factors and their interactions. Soft contact lenses have the potential to be an ideal method of correction for slowing myopic progression. This paper serves as a comprehensive review of the state of the art in the field of soft contact lens design for myopia control. The knowledge gaps are identified in designing the contact lenses and potential challenges are also presented that could be faced in future development.