The number of researches on the ion exchange membrane has increased considerably in recent years showing interest in fuel cell technology for the automobile and portable applications. The most promising fuel cell technology for low-temperature operation (80 °C < T < 150 °C) uses a polymer membrane separating the anode and cathode compartments in an electrochemical cell. Polyoxadiazoles (PODs) belong to a class of heterocyclic polymers, which possess a number of unique properties, such as thermal, mechanical, and chemical resistance. In the present review, numerous ways of POD synthesis are discussed in relation to their functional properties. In addition, different approaches to the elaboration of POD-based composite membranes are discussed in details in order to reveal the structure/properties relationship.