AbstractThe reversible luminescence modification of inorganic phosphors has emerged as a promising field, enabling innovative applications such as optical memory, multiple anti‐counterfeiting, and photoswitches. Traditional luminescence modulation techniques, such as core–shell structure design and energy transfer‐related luminescent ions regulation, face challenges in achieving reversible luminescence modification. Chromism induces reversible color changes in materials when stimulated by external fields such as electricity, heat, and light. Combining chromism with luminescence enables the creation of chromism‐driven reversible luminescence manipulation in a single material. This review summarizes recent advances in reversible luminescence modification of inorganic phosphors based on chromism reaction and highlights their potential applications in optical data storage, fingerprint acquisition, and anti‐counterfeiting areas. The potential prospective research directions are also discussed and the challenges and opportunities of chromism‐based reversible luminescent materials are presented for further extended applications.