Metal–organic frameworks (MOFs) and covalent organic frameworks (COFs) hybrid materials are a class of porous crystalline materials that integrate MOFs and COFs with hierarchical pore structures. As an emerging porous frame material platform, MOF/COF hybrid materials have attracted tremendous attention, and the field is advancing rapidly and extending into more diverse fields. Extensive studies have shown that a broad variety of MOF/COF hybrid materials with different structures and specific properties can be synthesized from diverse building blocks via different chemical reactions, driving the rapid growth of the field. The allowed complementary utilization of π‐conjugated skeletons and nanopores for functional exploration has endowed these hybrid materials with great potential in challenging energy and environmental issues. It is necessary to prepare a “family tree” to accurately trace the developments in the study of MOF/COF hybrid materials. This review comprehensively summarizes the latest achievements and advancements in the design and synthesis of MOF/COF hybrid materials, including COFs covalently bonded to the surface functional groups of MOFs (MOF@COF), MOFs grown on the surface of COFs (COF@MOF), bridge reaction between COF and MOF (MOF+COF), and their various applications in catalysis, energy storage, pollutant adsorption, gas separation, chemical sensing, and biomedicine. It concludes with remarks concerning the trend from the structural design to functional exploration and potential applications of MOF/COF hybrid materials.