Regulatory T cells (Tregs) are a suppressive subset of T cells that have important roles in maintaining self‐tolerance and preventing immunopathology. The T‐cell receptor (TCR) and its antigen specificity play a dominant role in the differentiation of cells to a Treg fate, either in the thymus or in the periphery. This review focuses on the effects of the TCR and its antigen specificity on Treg biology. The role of Tregs with specificity for self‐antigen has primarily been studied in the context of autoimmune disease, although recent studies have focused on their role in steady‐state conditions. The role of Tregs that are specific for pathogens, dietary antigens and allergens is much less studied, although recent data suggest a significant and previously underappreciated role for Tregs during memory responses to a wide range of foreign antigens. The development of TCR‐ or chimeric antigen receptor (CAR)‐transduced T cells means we are now able to engineer Tregs with disease‐relevant antigen specificities, paving the way for ensuring specificity with Treg‐based therapies. Understanding the role that antigens play in driving the generation and function of Tregs is critical for defining the pathophysiology of many immune‐mediated diseases, and developing new therapeutic interventions.