In this book, electromagnetic wave propagation is theoretically characterized inside metamaterial-based photonic crystal. Dependency of forward and backward wave propagation on coupling coefficient and grating length are analytically investigated, and transmittivity is obtained for different coupling conditions. Bragg wavelength is set at 1550 nm, and propagation characteristics are calculated for different wavelengths around the central magnitude. Three different types of metamaterial are considered namely paired nanorod, nano-fishnet with rectangular void and nano-fishnet with elliptical void as these structures are physically realizable. Comparative analysis is carried out for suitability of performance in different optoelectronic applications.