Significant research has been conducted on molecular ferroelectric materials, including pure organic and inorganic compounds; however, studies on ferroelectric materials based on coordination metal complexes are scarce. Ferroelectric materials based on coordination metal complexes have tunable structures and designs, with coexistence or synergy between the ferroelectric behavior and magnetic properties. Compared to inorganic compounds, few coordination metal complexes exhibit coupling between the magnetic and dielectric properties. Coordination metal complexes with strong coupling between the magnetic and dielectric properties exhibit dielectric permittivity variations under external magnetic fields. Therefore, they have attracted substantial interest for their potential use in magnetoelectric devices. In this review, we discuss recent advances in coordination metal complexes, that exhibit coupled magnetic functionalities and ferroelectricity or dielectric properties, including single‐molecule magnets, electron delocalization systems, and external stimuli responsive compounds.