Over the last few decades it has been shown that novel technologies and technological progress rapidly change the working environment of radiologists and nuclear medicine physicians. Thus, new possibilities, e.g., in tumor staging and therapy monitoring, but also new challenges arise. Recently, it could be shown that the integration of magnetic resonance imaging (MRI) and positron emission tomography (PET) is technically possible. The evolvement of new dedicated hybrid MR/PET systems for whole-body imaging in humans offers new potential in multimodal imaging. Especially simultaneous measurement of PET and MRI datasets allows for insights in metabolic and functional processes, particularly in oncologic demands, but also in cardiovascular and cerebral imaging. In this work-in-progress review article, a technical summary including the method-inherent challenges are given. Furthermore, possible clinical applications and research interests are addressed.