Organometal trihalide perovskites have recently emerged as promising materials for low‐cost, high‐efficiency solar cells. In less than five years, the efficiency of perovskite solar cells (PSC) has been updated rapidly as a result of new strategies adopted in their fabrication process, including device structure, interfacial engineering, chemical compositional tuning, and crystallization kinetics control. To date, the best PSC efficiency has reached 20.1%, which is close to that of single crystal silicon solar cells. However, the stability of PSC devices is still unsatisfactory and is the main bottleneck impeding their commercialization. Here, we summarize recent studies on the degradation mechanisms of organometal trihalide perovskites in PSC devices, and the strategies for stability improvement. Organometal trihalide solar cells, despite their high efficiency and low cost, still have a serious air instability limitations. Recent studies of the degradation mechanisms of organometal trihalide perovskites in photovoltaics and various strategies for stability improvement are summarized.