Metal‐Organic Frameworks (MOFs), a novel class of porous extended crystalline structures, are favored in different fields of heterogeneous catalysis, CO2 separation and conversion, and energy storage (supercapacitors) due to their convenience of synthesis, structural tailor‐ability, tunable pore size, high porosity, large specific surface area, devisable structures, and adjustable compositions. Nickel (Ni) is a ubiquitous element extensively applied in various fields of catalysis and energy storage due to its low cost, high abundance, thermal and chemical stability, and environmentally benign nature. Ni‐based MOFs and their derivatives provide us with the opportunity to modify different properties of the Ni center to improve their potential as heterogeneous catalysts or energy storage materials. The recent achievements of Ni−MOFs and their derivatives as catalysts, membrane materials for CO2 separation and conversion, electrode materials and their respective performance have been discussed in this review.