Bismuth (Bi) is a particular element with many distinctive properties such as low toxicity or nontoxicity, high specific gravity, photoluminescence, photoelectronic and photovoltaic effects, strong oxidation ability, water insolubility, etc. These distinctive properties help to boost various applications of Bi. The recent decades have witnessed a dramatic increase in the application research of Bi‐based materials, especially on photocatalysis. This paper begins with an introduction to the history of Bi, followed by a summary of its distinctive properties, and then provides a comprehensive overview of its applications in photocatalysis, sensing, medicine, and diagnosis and treatments, with a particular focus on near‐infrared photocatalysis, flexible wearable sensor, in vivo detection and therapeutics. Finally, the main challenges and development prospects of the Bi‐based materials are introduced. With the development trends of Bi research discussed, this paper is aimed at improving the knowledge of Bi and arising the research interest of Bi in the hope of extending the applications of Bi. [ABSTRACT FROM AUTHOR]