The controllable synthesis of hollow nanomaterials has broad application prospects in many fields, such as catalysis, energy conversion and storage, and biomedicine. This account aims to reveal the key effects of etching on the hollowing process of nanostructures. We discuss the precise manipulation of the hollowing process by enhancing the relative stability of the nanoparticle surface in the etchant, mainly focusing on three types of etching strategies, including the hard templating method, redox-assisted etching method, and surface-passivated etching method. Finally, we provide an outlook on the future development of etching-based strategies for the controllable synthesis of hollow nanostructures.