The past decade has witnessed the explosive development of cancer immunotherapies. Nevertheless, low immunogenicity, limited specificity, poor delivery efficiency, and off‐target side effects remain to be the major limitations for broad implementation of cancer immunotherapies to patient bedside. Encouragingly, advanced biomaterials offering cell‐specific modulation of immunological cues bring new solutions for improving the therapeutic efficacy while relieving side effect risks. In this review, focus is given on how functional biomaterials can enable cell‐specific modulation of cancer immunotherapy within the cancer‐immune cycle, with particular emphasis on antigen‐presenting cells (APCs), T cells, and tumor microenvironment (TME)‐resident cells. By reviewing the current progress in biomaterial‐based cancer immunotherapy, here the aim is to provide a better understanding of biomaterials’ role in targeting modulation of antitumor immunity step‐by‐step and guidelines for rationally developing targeting biomaterials for more personalized cancer immunotherapy. Moreover, the current challenge and future perspective regarding the potential application and clinical translation will also be discussed.