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Multi-functional machine tools for metal cutting and their related technologies are surveyed together with their historical review. They are basically classified into two types of turning center (TC) based, and milling machine (MC) based. Some of the machines have a combined structure of the two. Various kinds of multi-functional machine tools have been developed and put into practical use in the past to meet specific purposes or demands of customers. However, there is still not a rational and systematic methodology to determine the configuration of the machine. Effort must be devoted to develop a scientific methodology to design new multi-functional machine tools as their demand is still increasing in order to machine complicated and difficult parts at higher speed with higher accuracy. The control technology is the key issue to run the multi-functional machine tools effectively and accurately. The virtual machine tool technology is expected to play an important role to support advancement of the collision free tool path and simultaneous control of multiple drives. CAM software and the supporting technologies, such as NC programming and collision avoidance, are important from the practical point of view, and further efforts are needed to develop these technologies. Last but not least, is the technology to measure and evaluate the motion error of the multi-functional machine tools. As the number of axes of simultaneous control increases, it becomes extremely difficult to measure the motion error of the machine, especially when the linear and rotary motions are combined. Further research in this field is also needed.