Nowadays, materials with great potential for environmental protection are being sought. Metal-organic frameworks, in particular those with cobalt species as active sites, have drawn considerable interest due to their excellent properties. This review focuses on describing cobalt-based MOFs in the context of light-triggered processes, including dye degradation, water oxidation and splitting, carbon dioxide reduction, in addition to the oxidation of organic compounds. With the use of Co-based MOFs (e.g., ZIF-67, Co-MOF-74) as photocatalysts in these reactions, even over 90% degradation efficiencies of various dyes (e.g., methylene blue) can be achieved. Co-based MOFs also show high TOF/TON values in water splitting processes and CO2-to-CO conversion. Additionally, the majority of alcohols may be converted to aldehydes with efficiencies exceeding 90% and high selectivity. Since Co-based MOFs are effective photocatalysts, they can be applied in the elimination of toxic contaminants that endanger the environment.