Two-dimensional quantum dots have received a lot of attention in recent years due to their fascinating properties and widespread applications in sensors, batteries, white light-emitting diodes, photodetectors, phototransistors, etc. Atomically thin two-dimensional quantum dots derived from graphene, layered transition metal dichalcogenide, and phosphorene have sparked researchers’ interest with their unique optical and electronic properties, such as a tunable energy bandgap, efficient electronic transport, and semiconducting characteristics. In this review, we provide in-depth analysis of the characteristics of two-dimensional quantum dots materials, their synthesis methods, and opportunities and challenges for novel device applications. This analysis will serve as a tipping point for learning about the recent breakthroughs in two-dimensional quantum dots and motivate more scientists and engineers to grasp two-dimensional quantum dots materials by incorporating them into a variety of electrical and optical fields.