In the group of energetic diazoles, 4,4’,5,5’‐tetranitro‐1H,1’H‐2,2’‐biimidazole (TNBI) have attracted much attention in the past few years. Although the compound suffers from hygroscopicity, it is a useful substrate for the synthesis of new high energy materials. The review summarizes published data on the methods of preparation, structure, properties and energetic characteristics of TNBI, its salts and N‐substituted derivatives. This class of compounds contains mainly nitrogen rich molecules with potential to become future propellants and explosives.