New semiconductors and host materials are expected to be found among newly synthesized boron/carbon/nitrogen (B/C/N) materials based on the graphite network. The synthesis, structure, and properties of such materials, including solid solutions, more‐ordered B/C/N hybrids, and compounds (e.g., BC3, C5N, BC2N, BC3N, BC4N, BC6N2H3), are reviewed. Particular attention is paid to their electrical properties, luminescenc characteristics, and intercalation chemistry, together with the application of B/C/N materials as a battery electrode matrix.