This review aims to give an insight into the main hazards currently found in smoked meat and fish products. Literature research was carried out on international databases such as Access to Global Online Research in Agriculture (AGORA) database, Science direct, and Google scholar to collect and select 92 relevant publications included in this review. The smoking process was described and five hazards mostly found in smoked fish and meat were presented. The heat‐induced compounds such as polycyclic aromatic hydrocarbons, heterocyclic amines, and nitrosamines were found in smoked fish and meat. Other hazards such as biogenic amines and heavy metals were also present in smoked fish and meat. The levels of these hazards reported from the literature exceeded the maximal limits of European Union. A brief description of risk assessment methodology applicable to such toxic compounds and risk assessment examples was also presented in this review. As most of the hazards reported in this review are toxic and even carcinogenic to humans, actions should be addressed to reduce their presence in food to protect consumer health and to prevent public health issue.