Polyoxometalate　(POM)　macrocycles　have　been　extensively　investigated　due　to　their　potential　applications　in　various　fields,　including　sensing,　optics,　magnetism,　proton　conduction,　catalysis,　and　host-guest　chemistry,　leveraging　the　advantages　offered　by　their　unique　wheeled　structures.　In　this　review,　the　recent　progress　of　POM　macrocycles,　including　their　assembly　strategies,　crystal　structures,　properties,　and　various　applications,　is　reviewed.　Additionally,　the　current　obstacles　and　challenges　regarding　the　design　and　construction　of　POM　macrocycles　are　also　discussed.