Abstract The unprecedented realization of two‐dimensional (2D) van der Waals magnets excitingly extends the synergy between spintronics and 2D materials, started with graphene over the last decade. This article reviews the recent milestones in the development of 2D magnets and its derived heterostructures. In particular, a number of critical challenges centered around the scalability, ambient stability and Curie temperature of these atomically thin magnets are discussed. This mini‐review also provides an outlook on what the future might hold for this integrated field of 2D spintronics, and assesses its potential in postsilicon electronics.