AbstractControlled release and nanotechnology techniques hold promising potential for propelling the pesticide industry toward the goals of green revolution. This study introduces the concept of atom economy into the multifunctionality of controlled‐release formulations (CRFs) of pesticides from both economic and sustainable perspectives. In addition to their core function of controlling the release of active ingredient, carriers also provide additional benefits, including enhanced foliar adhesion and pesticide translocation, nutritional function, synergistic bioactivity, safety for nontarget organisms, crop stress alleviation, reduced soil leaching, soil remediation, and fluorescence visualization. These additional functions are highlighted and taken seriously. Through ingenious excogitation, the multifunctional CRFs of pesticides can achieve multiple objectives, enhancing input efficiency while minimizing environmental impacts. We tentatively blazed a trail by reviewing the recent advances in multifunctional CRFs of pesticides from the perspective of green chemistry. Additionally, potential development and implementation barriers of CRFs were discussed, emphasizing the necessity for robust field trials and comprehensive systems‐level efficacy/biosafety evaluations to substantially boost the technical readiness and performance of multifunctional CRFs of pesticides. Our goal is to expand the multifunctional concept for pesticide formulations, thereby accelerating the development of global sustainable agrochemical products.