Over the past decade, significant advancements have been made in phase engineering of two-dimensional transition metal dichalcogenides (TMDCs), thereby allowing controlled synthesis of various phases of TMDCs and facile conversion between them. Recently, there has been emerging interest in TMDC coexisting phases, which contain multiple phases within one nanostructured TMDC. By taking advantage of the merits from the component phases, the coexisting phases offer enhanced performance in many aspects compared with single-phase TMDCs. Herein, this review article thoroughly expounds the latest progress and ongoing efforts on the syntheses, properties, and applications of TMDC coexisting phases. The introduction section overviews the main phases of TMDCs (2H, 3R, 1T, 1T′, 1T d ), along with the advantages of phase coexistence. The subsequent section focuses on the synthesis methods for coexisting phases of TMDCs, with particular attention to local patterning and random formations. Furthermore, on the basis of the versatile properties of TMDC coexisting phases, their applications in magnetism, valleytronics, field-effect transistors, memristors, and catalysis are discussed. Lastly, a perspective is presented on the future development, challenges, and potential opportunities of TMDC coexisting phases. This review aims to provide insights into the phase engineering of 2D materials for both scientific and engineering communities and contribute to further advancements in this emerging field.