This chapter is an update of a recent review on the acid–base chemistry and solvation properties of metal phenolates. After a brief introduction on the physicochemical properties of metal phenolates, the interaction between phenolate ligands and metal Lewis acids is discussed. Examples of solvent effects on the acid–base properties, structure, and chemical reactivity are presented. Furthermore, the interaction of multidentate phenolic ligands and metal cations is highlighted because of their relevance in transition‐metal coordination chemistry, catalyst development, metalloenzyme mimicry, cytotoxicity, and magnetic properties.