Metal–organic frameworks (MOFs) have emerged as a transformative class of materials in materials science and chemistry due to their exceptional porosity and structural tunability. Composed of metal ions or clusters intricately coordinated with organic ligands, MOFs form highly ordered 3D networks with well‐defined pores and channels. These unique characteristics enable precise customization of pore size, shape, and functionality through the selection of appropriate metal ions and ligands, unlocking diverse applications across multiple fields. This review provides a comprehensive exploration of MOFs, focusing on their synthesis, structural properties, and versatility. Key areas of discussion include MOFs’ potential for catalytic activity, gas storage, sensing, and drug delivery. Of particular importance is their transformative role in environmental remediation, energy storage, and biomedical applications, demonstrating their adaptability to modern challenges. However, significant barriers such as scalability, long‐term stability, and economic viability must be addressed to enable widespread adoption. By detailing state‐of‐the‐art advancements, this review highlights MOFs’ unparalleled ability to achieve precision and efficiency in targeted applications, offering valuable insights for emerging researchers. The findings underscore MOFs’ pivotal role in addressing contemporary scientific and industrial challenges, paving the way for innovative solutions in energy, environment, and health.