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Romantic partners often face situations in which their preferences, interests and goals are not well aligned—what is good for one partner is not good for the other. In these situations, people need to make a decision between pursuing their own self‐interest and sacrificing for their partner or the relationship. In this work, we discuss antecedents and consequences of sacrifice in close relationships. Specifically, we address when people are more likely to sacrifice, what are the motivations driving a sacrifice, and what are the affective consequences of this behavior for the person who makes the sacrifice (i.e., the actor), for the person who receives the sacrifice (i.e., the recipient), and for the relationship. We conclude by discussing important directions for future research on the implications of sacrifice for the well‐being of individuals and their relationships.