Current research on integrated circuits and power electronics is rapidly advancing toward miniaturization, high power density, and multi‐chip integration, which presents unprecedented challenges to the thermal management performance of packaging materials. Along the device‐to‐sink heat‐flow path in power modules, thermal management relies primarily on two functional material systems: substrate materials that provide mechanical support and electrical insulation, and thermal interface materials (TIMs) that bridge heat transfer across heterogeneous interfaces. This paper summarizes recent advances in thermal management materials for power electronics, with a focus on ceramic‐based substrate systems, particularly Si ₃ N ₄ ceramics, and TIM systems including conductive adhesives, diamond‐reinforced composites, and 2D filler–reinforced polymer composites. Emphasis is placed on improvements in thermal conductivity, reduction of thermal resistance, and enhancement of mechanical reliability through process optimization, interfacial engineering, and hybrid filler design. In addition, representative multiscale simulation approaches and emerging applications of artificial intelligence and machine learning are reviewed as tools for understanding interfacial heat transport and accelerating materials screening and optimization. Finally, key challenges and future directions toward scalable, reliable, and intelligent thermal management solutions are discussed, providing guidance for both academic research and industrial deployment in next‐generation power‐electronics packaging.

Packaging is a pivotal step in electronic device manufacturing, determining the translational performance of bare chips