In recent decades, rising anthropogenic greenhouse gas emissions (mainly CO2 and CH4) have increased alarm due to escalating effects of global warming. The dry carbon dioxide reforming of methane (DRM) reaction is a sustainable way to utilize these notorious greenhouse gases. This paper presents a review of recent progress in the development of nickel‐based catalysts for the DRM reaction. The enviable low cost and wide availability of nickel compared with noble metals is the main reason for persistent research efforts in optimizing the synthesis of nickel‐based catalysts. Important catalyst features for the rational design of a coke‐resistant nickel‐based nanocatalyst for the DRM reaction are also discussed. In addition, several innovative developments based on salient features for the stabilization of nickel nanocatalysts through various means (which include functionalization with precursors, synthesis by plasma treatment, stabilization/confinement on mesoporous/microporous/carbon supports, and the formation of metal oxides) are highlighted. The final part of this review covers major issues and proposed improvement strategies pertaining to the rational design of nickel‐based catalysts with high activity and stability for the DRM reaction. New from old: Salient catalyst features and innovative design strategies for nickel‐based catalysts to achieve high stability and coke resistance for CO2 (dry) reforming of methane is reviewed and developments from recent years are discussed with examples.