Advanced switchable molecules and materials have shown great potential in numerous applications. These novel materials can express different states of physicochemical properties as controlled by a designated stimulus, such that the processing condition can always be maintained in an optimized manner for improved efficiency and sustainability throughout the whole process. Herein, the recent advances in switchable molecules/materials in oil recovery and oily waste cleanup are reviewed. Oil recovery and oily waste cleanup are of critical importance to the industry and environment. Switchable materials can be designed with various types of switchable properties, including i) switchable interfacial activity, ii) switchable viscosity, iii) switchable solvent, and iv) switchable wettability. The materials can then be deployed into the most suitable applications according to the process requirements. An in‐depth discussion about the fundamental basis of the design considerations is provided for each type of switchable material, followed by details about their performances and challenges in the applications. Finally, an outlook for the development of next‐generation switchable molecules/materials is discussed.