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Abstract Layered halide perovskites have garnered significant interest due to their exceptional optoelectronic properties and great promises in light‐emitting applications. Achieving high‐performance perovskite light‐emitting diodes (PeLEDs) requires a deep understanding of exciton dynamics in these materials. This review begins with a fundamental overview of the structural and photophysical properties of layered halide perovskites, then delves into the importance of dimensionality control and cascade energy transfer in quasi‐2D PeLEDs. In the second half of the review, more complex exciton dynamics, such as multiexciton processes and triplet exciton dynamics, from the perspective of LEDs are explored. Through this comprehensive review, an in‐depth understanding of the critical aspects of exciton dynamics in layered halide perovskites and their impacts on future research and technological advancements for layered halide PeLEDs is provided.