Metal halide perovskite-based photovoltaics and light-emitting diodes (LEDs) have exhibited a promising trajectory toward commercial viability, nearing the performance levels of them to the commercially established materials. A particularly encouraging avenue involves tailoring the various dimensions of perovskite materials, notably through the implementation of perovskite multiple quantum wells (MQWs), to amplify their potential in optoelectronic applications. This comprehensive review delves into recent breakthroughs in both self-assembled perovskite MQWs and artificially fabricated counterparts, elucidating their mechanisms and performance characteristics. By gathering and evaluating the very original and the latest research findings, this review aims to provide valuable insights into the underlying principles governing optical behaviors of perovskite MQWs as well as optoelectronic and photonic applications. Furthermore, it outlines prospective research pathways, delineating potential pathways for further exploration and optimization of perovskite MQW-based devices. Through this general evaluation on the recent advancements and prospects, this review contributes to advancing the understanding and application of perovskite materials in next-generation optoelectronic and photonic technologies.