Aquaculture genomics, genetics, and breeding are pivotal disciplines that enhance the efficiency and sustainability of fish farming. The advanced genomic technologies, including whole genome sequencing (WGS), genome‐wide association studies (GWAS), and CRISPR/Cas9 gene editing, have revolutionized our understanding of the genetic foundations of economically important traits in aquaculture species. These technologies enable the identification of genetic markers linked to growth, disease resistance, and environmental adaptability, facilitating the development of improved breeding strategies. Marker‐assisted selection (MAS) and genomic selection (GS) are now integral to breeding programs, allowing precise selection of desirable traits and accelerating genetic gain. Despite these advances, several challenges remain, including the need for extensive phenotypic and genomic databases, the complexity of polygenic traits, and ethical considerations surrounding genetic modifications. Furthermore, integrating these genomic tools into practical breeding programs necessitates bioinformatics infrastructure and expertise. This review provides a comprehensive overview of the present status of aquaculture genomics and genetics, highlighting key technological advancements and their applications in breeding programs. It also discusses the challenges faced by the industry and outlines future research priorities, such as enhancing genomic resources for under‐researched species, improving phenotypic data collection accuracy, and developing sustainable breeding practices. By addressing these challenges and leveraging genomic insights, the aquaculture industry can significantly improve productivity, sustainability, and resilience, contributing to global food security and economic growth.