Metal nanoclusters serve as an emerging class of modular nanomaterials. The transformation of metal nanoclusters has been fully reflected in their studies from every aspect, including the structural evolution analysis, physicochemical property regulation, and practical application promotion. In this review, we highlight the driving forces for transforming atomically precise metal nanoclusters and summarize the related transforming principles and fundamentals. Several driving forces for transforming nanoclusters are meticulously reviewed herein: ligand-exchange-induced transformations, metal-exchange-induced transformations, intercluster reactions, photochemical transformations, oxidation/reduction-induced transformations, and other factors (intrinsic instability, pH, temperature, and metal salts) triggering transformations. The exploitation of transforming principles to customize the preparations, structures, physicochemical properties, and practical applications of metal nanoclusters is also disclosed. At the end of this review, we provide our perspectives and highlight the challenges remaining for future research on the transformation of metal nanoclusters. Our intended audience is the broader scientific community interested in metal nanoclusters, and we believe that this review will provide researchers with a comprehensive synthetic toolbox and insights on the research fundamentals needed to realize more cluster-based nanomaterials with customized compositions, structures, and properties.