Developing advanced electrocatalysts toward the cathodic oxygen reduction reaction is essential for the large‐scale application of fuel cells. Pt‐based catalysts have been known to exhibit optimal ORR performance compared with other metal‐based counterparts. However, their long‐term stability and toxic tolerance still need further improvement. Numerous optimization strategies have been employed in the past few years to enhance the ORR comprehensive performance of Pt‐based electrocatalysts, and tremendous progress has been achieved. Among various optimization strategies, the confinement strategy can not only inhibit the coalescence of catalysts during high‐temperature preparation but also mitigate the aggregation, detachment, and dissolution during the electrochemical process, which motivates this review. After addressing the fundamental ORR mechanism and the superiority of confined strategies, we categorize and review various Pt‐based catalysts confined by different materials, including organic compounds, inorganic oxides and carbon materials. Their synthesis routes are discoursed first, then their structure and performance optimization are highlighted. Subsequently, the principle of confinement strategy to enhance the catalyst ORR performance is also discussed. Finally, the challenges and perspectives on the materials selection, synthesis design, technology improvement, and practical application of confined Pt‐based catalysts are proposed.