Nitrogenases are metalloenzymes that are involved in the biological fixation of nitrogen. Nitrogenases contain the following metal–sulfur clusters: the [Fe
4
S
4
] cluster, the P‐cluster, and one of the FeMo‐cofactor, the FeV‐cofactor, or the FeFe‐cofactor. At present, structures of all clusters except for that of the FeFe‐cofactor have been determined by X‐ray diffraction studies of nitrogenases. The metal–sulfur clusters in nitrogenases have remained challenging synthetic targets due to their unique structural features. In addition, the elucidation of the properties of the cluster models, including their structural, spectroscopic, magnetic, and electronic characteristics, as well as their reactivity may further our understanding of the properties and functionality of nitrogenases. This article reviews hitherto reported structural models of nitrogenase metalloclusters. Although the synthesis of reliable structural models of the FeMo‐cofactor and the FeV‐cofactor remains challenging, high‐precision structural models have already been obtained for the [Fe
4
S
4
] cluster and the P‐cluster, which has allowed systematic investigations into their structures and redox properties. This article also summarizes the current state‐of‐the‐art regarding the functional modeling of nitrogenases with metal–sulfur clusters, which includes the reduction of hydrazine to ammonia and of C
1
‐substrates to hydrocarbons, and N
2
‐binding. Moreover, the reactivity of nitrogenase with a structural model inserted instead of the FeMo‐cofactor has recently been reported.