Mixed-metal metal–organic frameworks (MM-MOFs) can be considered to be those MOFs having two different metals anywhere in the structure. Herein we summarize the various strategies for the preparation of MM-MOFs and some of their applications in adsorption, gas separation, and catalysis. It is shown that compared to homometallic MOFs, MM-MOFs bring about the opportunity to take advantage of the complexity and the synergism derived from the presence of different metal ions in the structure of MOFs. This is reflected in a superior performance and even stability of MM-MOFs respect to related single-metal MOFs. Emphasis is made on the use of MM-MOFs as catalysts for tandem reactions.