Over the past two decades, metal–organic frameworks (MOFs), a type of porous material, have aroused great interest as precursors or templates for the derivation of metal oxides and composites for the next generation of electrochemical energy storage applications owing to their high specific surface areas, controllable structures, and adjustable pore sizes. The electrode materials, which affect the performance in practical applications, are pivotal components of batteries and supercapacitors. Metal oxide composites derived from metal–organic frameworks possessing high reversible capacity and superior rate and cycle performance are excellent electrode materials. In this Review, potential applications for MOF‐derived metal oxide composites for lithium‐ion batteries, sodium‐ion batteries, lithium–oxygen batteries, and supercapacitors are studied and summarized. Finally, the challenges and opportunities for future research on MOF‐derived metal oxide composites are proposed on the basis of academic knowledge from the reported literature as well as from experimental experience. Synthesis strategies, tailored material properties, and different electrochemical performance are prominent features of batteries and supercapacitors. Metal–organic frameworks (MOFs) are a kind of porous materials used as precursors for the derivation of composites. MOF‐derived metal oxide composites possessing high reversible capacity, rate capability, and cycling stability are excellent electrode materials. Here, MOF‐derived metal oxide composites are comprehensively summarized and evaluated.