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Succinic and malic acids and their derivatives are commonly used chemicals and are closely associated with our everyday life in the forms of food ingredients, acidulants, cosmetic products, detergents, herbicides, lubricants, biodegradable polymers, record films, clothes fibers, rubbers, and pharmaceuticals. Although succinic and malic acids are mostly produced through the petrochemical processes, their biotechnological production has been drawing much attention due to the environmental concerns and the unstable and increasing oil prices. In this article, both chemical and biotechnological processes for the production of succinic and malic acids are described. Focus is given on the metabolic engineering strategies for the development of the production strains. Also, production and applications of their major derivatives are reviewed. Finally, future directions in the development of strains and bioprocesses are discussed.