Recently, working memory (WM) has been conceptualized as a limited resource, distributed flexibly and strategically between an unlimited number of representations. In addition to improving the precision of representations in WM, the allocation of resources may also shape how these representations act as attentional templates to guide visual search. Here, we reviewed recent evidence in favor of this assumption and proposed three main principles that govern the relationship between WM resources and template-guided visual search. First, the allocation of resources to an attentional template has an effect on visual search, as it may improve the guidance of visual attention, facilitate target recognition, and/or protect the attentional template against interference. Second, the allocation of the largest amount of resources to a representation in WM is not sufficient to give this representation the status of attentional template and thus, the ability to guide visual search. Third, the representation obtaining the status of attentional template, whether at encoding or during maintenance, receives an amount of WM resources proportional to its relevance for visual search. Thus defined, the resource hypothesis of visual search constitutes a parsimonious and powerful framework, which provides new perspectives on previous debates and complements existing models of template-guided visual search.