Resistive random access memory (RRAM) has emerged as a competitive candidate for nonvolatile memory due to its high speed, low power consumption, simple structure, strong scalability, and CMOS compatibility. Herein, an overview of the electrodes and resistive layers is first discussed according to the material properties and structure of RRAM. Then, recent advances in the resistive mechanisms of RRAM are comprehensively discussed and evaluated based on experimental research results and fundamental physics principles. Then, the electrochemical metallization mechanism and the valence change metallization mechanism are thoroughly studied, as well as the formation, fracture, and resistance state change behavior of conductive filaments in RRAM based on the ion motion type. Then, various electron transport‐dominated resistance mechanisms are reviewed, and electron transport and resistance switching in the space–charge‐limited current mode is thoroughly examined using energy band theory. As a result, a theoretical reference is provided for the development of nanothin‐film devices.