1,3‐Dinitro alkanes are an emerging class of nitro alkanes that act as bidentate nucleophilic species suited to undergo a variety of reactions with an array of electrophiles. The goal of this microreview is to demonstrate the synthetic potential of these nitro derivatives, reporting both (i) recent procedures for the convenient synthesis (symmetric and asymmetric) of 1,3‐dinitro alkanes, and (ii) recent uses of these compounds as strategic starting materials for the preparation of a variety of important fine chemicals. The growing interest in 1,3‐dinitro alkanes in recent years is due to their strategic use as starting molecules for the synthesis of a large variety of valuable fine chemicals. In particular, these molecules offer the opportunity to develop one‐pot processes for the ex novo construction of carbo‐ and heterocyclic systems.