Porous coordination polymers or metal–organic frameworks with reversible phase‐transition behavior possess some attractive properties, and can respond to external stimuli, including physical and chemical stimuli, in a dynamic fashion. Their phase transitions can be triggered by adsorption/desorption of guest molecules, temperature changes, high pressure, light irradiation, and electric fields; these mainly include two types of transitions: crystal–amorphous and crystal–crystal transitions. These types of porous coordination polymers have received much attention because of their interesting properties and potential applications. Herein, reversible phase transition porous coordination polymers are summarized and classified based on different stimuli sources. Corresponding typical examples are then introduced. Finally, examples of their applications in gas separation, chemical sensors, guest molecule encapsulation, and energy storage are also presented.