Recent advances in polymer synthesis have significantly enhanced the ability to rationally design block copolymers with tailored functionality. The self‐assembly of these macromolecules in the solid state or in solution allows the formation of nanostructured materials with a variety of properties and potential functions. This Review illustrates recent progress in the field of block copolymer materials by highlighting selected emerging applications. Form and function: Functional block copolymers of well‐defined composition and length are readily available today thanks to recent advances in synthetic polymer chemistry. Their ability to self‐assemble into a great diversity of structures on the nanoscale, along with their customizable chemical functionalities, makes block copolymers highly desirable materials for a wide range of applications.