Metal-organic frameworks (MOFs) with large specific surface area, considerable pore volume, controllable structure, and high concentration of active metal sites have been applied widely in researches like catalysis and sensing. However, potential applications of MOFs in both photocatalysis and luminescence sensors are facing major challenges arising from their severe charge recombination, low utilization of solar energy, low quantum yield, limited charge transfer between the metal ions/clusters and the ligand. Recent studies revealed that rational introduction of carbon dots (CDs) with excellent optical properties, unique quantum confinement and high conductivity can greatly enhance the functions of MOFs. In this paper, typical synthesis methods of these CD-MOF composites as well as their potential applications in photocatalysis and sensing are reviewed with emphasis. Representative examples of these CD-MOF composites are discussed, and key features and advantages of CD-MOF composites that will facilitate future applications are highlighted. This review summarizes recent advances on the rational design of CD-MOF composites towards photocatalytic, sensing and other applications.