In today’s age, the Internet has become essential for children’s education and social development. Yet the very same technologies can expose children to online harm, which can negatively impact their well‐being and safety. These risks are becoming more serious as Internet penetration rises, particularly in emerging countries that have limited resources and capacities to tackle complex issues such as online sexual abuse, cyberbullying, and Internet addiction. As research on the entire range of risks that children are exposed to online is limited, particularly in Asia and the Pacific, this study aims to initiate the process of filling this knowledge gap and proposes a set of policy recommendations to address the challenge of balancing children’s online opportunities and risks. A key finding from the study is the need for a multistakeholder and collaborative approach to ensure the online safety of children, which must include children themselves.