Flexible and wearable energy storage devices are receiving increasing attention with the ever‐growing market of wearable electronics. Fiber‐shaped batteries display a unique 1D architecture with the merits of superior flexibility, miniaturization potential, adaptability to deformation, and compatibility with the traditional textile industry, which are especially advantageous for wearable applications. In the recent research frontier in the field of fiber‐shaped batteries, in addition to higher performance, advances in multifunctional, scalable, and integrable systems are also the main themes. However, many difficulties exist, including difficult encapsulation and installation of separators, high internal resistance, and poor durability. Herein, the design principles (e.g., electrode preparation and battery assembly) and device performance (e.g., electrochemical and mechanical properties) of fiber‐shaped batteries, including lithium‐based batteries, zinc‐based batteries, and some other representative systems, are summarized, with a focus on multifunctional devices with environmental adaptability, stimuli‐responsive properties, and scalability up to energy textiles, with the hope of enlightening future research directions. Finally, technical challenges in the realistic wearable application of these batteries are also discussed with the aim of providing possible solutions and new insights for further improvement.