The diverse array of variegated leaf plant species is characterized by a rich tapestry of chromatic patterns adorning their foliage. These distinctive markings not only confer aesthetic significance as a pivotal ornamental trait in plants but also bear ecological and biological relevance. They play a crucial role in facilitating reproductive processes, acting as a deterrent against natural adversaries, and facilitating adaptation to environmental fluctuations. This article provides a comprehensive review of recent advancements in the classification and formation of leaf variegation in ornamental plants. Based on distinctions in pigment accumulation and structural characteristics within leaf tissues, the microstructural categorization of variegation types is outlined, and the molecular mechanisms underlying leaf variegation formation are summarized. Existing research indicates that alterations in structural genes and transcription factors associated with pigment synthesis and metabolism, such as CHLH, DFR, CRD1, during leaf development, as well as mutations in genes related to organelle development and cell differentiation, including ZAT10 and VAR3, can directly or indirectly participate in leaf variegation formation by influencing differential pigment accumulation and altering leaf structure. While there have been numerous studies on the formation mechanisms of leaf variegation in ornamental plants, the genetic mechanisms underlying leaf variegation remain unclear. The reasons for differential gene expression in variegated leaf regions and the spatial distribution mechanisms of leaf variegation patterns are still areas requiring further investigation. Future research can involve the selection of model plants from variegated leaf species, building the pan-genome, integrating with multi-omics technologies such as pan-genomics, proteomics, and metabolomics. This approach can be employed to explore the origin of leaf variegation, the adaptive responses of variegated leaf plants to their environment, and investigate the evolutionary mechanisms underlying important plant traits and environmental adaptation.