Heterogeneous catalysts enabling multiple reaction sequences in one pot have a great potential for large‐scale production processes in terms of productivity, cost‐effectiveness, and low environmental impact. This paper reviews the most representative examples and the recent achievements in the field of solid bifunctional metal/acid‐site catalysts and their application to the production of fine chemicals through selective, cooperative, or sequential processes in single reactor units. The literature that appeared from January 2009 to January 2012 is covered.