Nanolasers are key elements in the implementation of optical integrated circuits owing to their low lasing thresholds, high energy efficiencies, and high modulation speeds. With the development of semiconductor wafer growth and nanofabrication techniques, various types of wavelength‐scale and subwavelength‐scale nanolasers have been proposed. For example, photonic crystal lasers and plasmonic lasers based on the feedback mechanisms of the photonic bandgap and surface plasmon polaritons, respectively, have been successfully demonstrated. More recently, nanolasers employing new mechanisms of light confinement, including parity–time symmetry lasers, photonic topological insulator lasers, and bound states in the continuum lasers, have been developed. Here, the operational mechanisms, optical characterizations, and practical applications of these nanolasers based on recent research results are outlined. Their scientific and engineering challenges are also discussed. Recent progress of five representative nanolasers, including photonic crystal lasers, plasmonic lasers, parity–time symmetry lasers, photonic topological insulator lasers, and bound states in the continuum lasers, is reviewed in terms of their operational principles, optical properties, and practical applications. The future perspectives and challenges of these nanolasers are also discussed.