Fault-tolerant cooperative control of multiagent systems has attracted ever-increasing attention in recent years due to the fact that multiple agents can provide much more redundancy than a single agent system, thereby making the fault tolerant cooperative control design more flexible. However, multiagent systems may bring severe challenges that do not exist in single-agent systems. This article aims at presenting a survey of trends and methodologies of fault tolerant cooperative control in multiagent systems. Depending on the countermeasure against the faults, the existing fault-tolerant cooperative control methodologies are first classified into four categories: Individual methodologies, cooperative methodologies, topology reconfiguration-based methodologies, and composition reconfiguration-based methodologies. Then the characteristics and implementation schemes of four categories of methodologies are discussed in detail. Furthermore, the applicability of fault tolerant cooperative control in smart grids is outlined. Finally, several challenging issues are envisioned for future research.