Deep eutectic solvents provide a versatile platform for CO ₂ capture and subsequent conversion into value-added chemicals.

5‐Hydroxymethylfurfural (HMF) is identified as an important bio‐based platform chemical to bridge petroleum‐based and biomass‐based resources. It can be obtained through dehydration of various carbohydrates as well as converted to value‐added fuels and chemicals. As designer solvents, ionic liquids (ILs) and deep eutectic solvents (DESs) have been widely used in catalytic transformation of biomass derivatives to various chemicals. This Review summarizes recent progress in experimental and theoretical studies on dehydration of carbohydrates such as fructose, glucose, sucrose, cellobiose, chitosan, cellulose, inulin, and even raw biomass to generate HMF using ILs and DESs as catalysts/cocatalysts and/or solvents/cosolvents. It also gives an overview of IL and DES‐involved catalytic transformation of HMF to downstream products via oxidation, reduction, esterification, decarboxylation, and so forth. Challenges and prospects of ILs and DESs are also proposed for further production of HMF and HMF derivatives from biomass in green and sustainable processes.