The escalating threat of anthropogenic climate change has spurred an urgent quest for innovative CO2 capture and utilization (CCU) technologies. Metal–organic frameworks (MOFs) have emerged as prominent candidates in CO2 capture and conversion due to their large specific surface area, well-defined porous structure, and tunable chemical properties. This review unveils the latest advancements in MOF-based materials specifically designed for superior CO2 adsorption, precise separation, advanced photocatalytic and electrocatalytic CO2 reduction, progressive CO2 hydrogenation, and dual functionalities. We explore the strategies that enhance MOF efficiency and examine the challenges of and opportunities afforded by transitioning from laboratory research to industrial application. Looking ahead, this review offers a visionary perspective on harnessing MOFs for the sustainable capture and conversion of CO2.