Along with the continuous optimization of the energy structure, more and more electricity come from intermittent renewable energy sources such as wind and solar energy. Redox flow batteries (RFBs) have the advantage that energy and power can be regulated independently, so they are widely used in large‐scale energy storage. Redox active materials are the important components of RFBs, which determine the performance of the battery and the cost of energy storage. Some metal coordination compounds (MCCs) and their derivatives have been considered redox active materials that can replace metal‐based redox flow batteries due to their properties such as tunability, high abundance and sustainability. MCCs can provide higher energy density because they are highly soluble both in the initial state and in any charged state during the battery cycling process. MCCs have also attracted a lot of attention from researchers because of their high economic value, low toxicity, and wide availability. This review provides an overview of the recent development of soluble metal coordination compounds, such as Ferrocene, and concludes with an in‐depth discussion of the prospects of metal coordination compounds for application in organic redox flow batteries.