Formaldehyde (HCHO) is a crucial C1 building block for daily‐life commodities in a wide range of industrial processes. Industrial production of HCHO today is based on energy‐ and cost‐intensive gas‐phase catalytic oxidation of methanol, which calls for exploring other and more sustainable ways of carrying out this process. Utilization of carbon dioxide (CO2) as precursor presents a promising strategy to simultaneously mitigate the carbon footprint and alleviate environmental issues. This Minireview summarizes recent progress in CO2‐to‐HCHO conversion using hydrogenation, hydroboration/hydrosilylation as well as photochemical, electrochemical, photoelectrochemical, and enzymatic approaches. The active species, reaction intermediates, and mechanistic pathways are discussed to deepen the understanding of HCHO selectivity issues. Finally, shortcomings and prospects of the various strategies for sustainable reduction of CO2 to HCHO are discussed. This Minireview summarizes recent progress in the production of HCHO from CO2, including chemical catalysis (hydrogenation using H2 and hydroboration/hydrosilylation), photo/electrocatalysis, and biocatalysis (enzymatic reduction). From analysis of advantages and deficits of each methodology, we present viewpoints and potential strategies for optimizing the CO2‐to‐HCHO conversion.