Abstract Transition metal−carbon−nitrogen (M−C−N) nanocrystals, such as hybrid‐structure, heterostructure, and cluster or single metal atoms anchored on carbon−nitrogen skeleton, have attracted wide attention in various fields for their superior physicochemical properties. However, it remains a great challenge to synthesize those M−C−N nanocrystals on a large nanoscale for their intrinsic characteristics, which further limited their extensive application in different fields. In this minireview, we present an overview of those M−C−N nanostructures in terms of their synthetic methods, applications and relationship between structure and properties. In addition, this review will also provide some perspectives on the challenges and opportunities of those nanomaterials.