Metal-organic frameworks (MOFs), typically referred as porous coordination polymers, represent an innovative class of inorganic-organic hybrid materials that are precisely constructed via highly organized self-assembly of metal ions or clusters alongside organic ligands from the precursor. The MOF can be conceptually framed as a "one-for-all" material, owing to its remarkable ability to fine-tune compositions without compromising their original structural integrity. The inherent versatility of MOFs allows them to be quickly and selectively transformed into their corresponding solid and hollow metal oxides, metal sulfides, or carbonaceous nanostructures simply by manipulating thermal conditions. These MOF-derived nanoporous hollow structural materials, including metal oxides, sulfides, and carbons, exhibit high surface areas and an interconnected pore structure, which are critical factors that contribute to enhanced electrochemical performance across a multitude of applications in the field of energy storage and conversion. Gaining a comprehensive and fundamental understanding of the MOF and MOF-derived hollow nanostructure formation mechanisms, coupled with post-synthesis modifications, is crucial for enhancing the structural, textural, and morphological control during the synthesis processes. Therefore, this timely review article meticulously underscores the essential design principles, innovative synthetic strategies, and a wide range of energy storage-conversion applications, illuminating the intricate hollow nanostructure structure-activity relationship that fundamentally underlies their impressive efficacy in energy storage systems. In addition, the discussion encompasses various ongoing challenges within this field while outlining potential prospects that may arise as MOF research progresses.