Composite track-etched membranes (CTeMs) emerged as a versatile and high-performance class of materials, combining the precise pore structures of traditional track-etched membranes (TeMs) with the enhanced functionalities of integrated nanomaterials. This review provides a comprehensive overview of the synthesis, functionalization, and applications of CTeMs. By incorporating functional phases such as metal nanoparticles and conductive nanostructures, CTeMs exhibit improved performance in various domains. In environmental remediation, CTeMs effectively capture and decompose pollutants, offering both separation and detoxification. In sensor technology, they have the potential to provide high sensitivity and selectivity, essential for accurate detection in medical and environmental applications. For energy storage, CTeMs may be promising in enhancing ion transport, flexibility, and mechanical stability, addressing key issues in battery and supercapacitor performance. Biomedical applications may benefit from the versality of CTeMs, potentially supporting advanced drug delivery systems and tissue engineering scaffolds. Despite their numerous advantages, challenges remain in the fabrication and scalability of CTeMs, requiring sophisticated techniques and meticulous optimization. Future research directions include the development of cost-effective production methods and the exploration of new materials to further enhance the capabilities of CTeMs. This review underscores the transformative potential of CTeMs across various applications and highlights the need for continued innovation to fully realize their benefits.