Due to their exceptional properties and diverse applications, including to magnetic devices, thermoelectric materials, catalysis, biomedicine, and energy storage, nanoscale metallic multilayer composites (NMMCs) have recently attracted great attention. The alternating layers of two or more metals that make up NMMCs are each just a few nanometers thick. The difficulties in producing and synthesizing new materials can be overcome by using nanoscale multilayer architectures. By adjusting the layer thickness, composition, and interface structure, the mechanical properties of these materials can be controlled. In addition, NMMCs exhibit unusually high strength at thin layer thicknesses because the multilayers have exceptionally high strength, as the individual layer thicknesses are reduced to the nanoscale. The properties of NMMCs depend on the individual layers. This means that the properties can be tuned by varying the layer thickness, composition, and interface structure. Therefore, this review article aims to provide a comprehensive overview of the mechanical properties and the application of high-performance NMMCs. The paper briefly discusses the fabrication methods used to produce these composites and highlights their potential in various fields, such as electronics, energy storage, aerospace, and biomedical engineering. Furthermore, the electrical conductivity, mechanical properties, and thermal stability of the above composite materials are analyzed in detail. The review concludes with a discussion of the future prospects and challenges associated with the development of NMMCs.