Nowadays, sustaining the atmosphere and protecting it from global warming are recognized as the main concerns of the planet. This problem has been addressed through the development of a number of different carbon capture and sequestration approaches. Lately, metal‐organic framework (MOF) has emerged as the most auspicious CO2 adsorption and conversion material. This novel class of porous material has demonstrated tremendous potential for gas separation technologies, particularly CO2 adsorption and conversion due to their remarkable characteristics. Therefore, the present review attempted to provide current understanding of the CO2 adsorption and conversion performance over MOF‐based materials. This review paper discussed the type and properties of the MOF, effect of metal and ligand on MOF's properties, and various applications of MOF. Furthermore, future insights were proposed for better design and development of MOF‐based materials for CO2 applications.