Hepatitis C compromises the quality of life of more than 350 million individuals worldwide. Over the last decade, therapeutic regimens for treating hepatitis C virus (HCV) infections have undergone rapid advancements. Initially, structure‐based drug design was used to develop molecules that inhibit viral enzymes. Subsequently, establishment of cell‐based replicon systems enabled investigations into various stages of HCV life cycle including its entry, replication, translation, and assembly, as well as role of host proteins. Collectively, these approaches have facilitated identification of important molecules that are deemed essential for HCV life cycle. The expanded set of putative virus and host‐encoded targets has brought us one step closer to developing robust strategies for efficacious, pangenotypic, and well‐tolerated medicines against HCV. Herein, we provide an overview of the development of various classes of virus and host‐directed therapies that are currently in use along with others that are undergoing clinical evaluation.