This review presents recent advances in synthetic methods and structural transformations of colloidal 2D layered metal chalcogenide nanocrystals. Planar 2D anisotropy and interlayer van der Waals gaps are the important characteristics of these nanocrystals for pristine disc, plate or sheet morphologies. These 2D nanocrystals undergo unique chemical transformations upon exposure to external chemical stimuli and newly obtained structures are 2D nanostructures with high complexity in their morphological geometries and chemical compositions. Finally, future opportunities and potential applications of 2D layered metal chalcogenide nanocrystals are briefly discussed.