Low‐dimensional metal–organic frameworks (LD MOFs) have attracted increasing attention in recent years, which successfully combine the unique properties of MOFs, e.g., large surface area, tailorable structure, and uniform cavity, with the distinctive physical and chemical properties of LD nanomaterials, e.g., high aspect ratio, abundant accessible active sites, and flexibility. Significant progress has been made in the morphological and structural regulation of LD MOFs in recent years. It is still of great significance to further explore the synthetic principles and dimensional‐dependent properties of LD MOFs. In this review, recent progress in the synthesis of LD MOF‐based materials and their applications are summarized, with an emphasis on the distinctive advantages of LD MOFs over their bulk counterparties. First, the unique physical and chemical properties of LD MOF‐based materials are briefly introduced. Synthetic strategies of various LD MOFs, including 1D MOFs, 2D MOFs, and LD MOF‐based composites, as well as their derivatives, are then summarized. Furthermore, the potential applications of LD MOF‐based materials in catalysis, energy storage, gas adsorption and separation, and sensing are introduced. Finally, challenges and opportunities of this fascinating research field are proposed.