Pyrene is one of the most widely investigated aromatic hydrocarbons given to its unique optical and electronic properties. Hence, pyrene-based ligands have been attractive for the synthesis of metal–organic frameworks (MOFs) in the last few years. In this review, we will focus on the most important characteristics of pyrene, in addition to the development and synthesis of pyrene-based molecules as bridging ligands to be used in MOF structures. We will summarize the synthesis attempts, as well as the post-synthetic modifications of pyrene-based MOFs by the incorporation of metals or ligands in the structure. The discussion of promising results of such MOFs in several applications; including luminescence, photocatalysis, adsorption and separation, heterogeneous catalysis, electrochemical applications and bio-medical applications will be highlighted. Finally, some insights and future prospects will be given based on the studies discussed in the review. This review will pave the way for the researchers in the field for the design and development of novel pyrene-based structures and their utilization for different applications.