In multiferroic thin films, the coupled magnetic and ferroelectric order parameters can be exploited for developing magnetoelectronic devices. These include novel spintronic devices such as tunnel magnetoresistance (TMR) sensors and spin valves with electric field tunable functions. A typical TMR device consists of two layers of ferromagnetic materials separated by a thin tunnel barrier (~2 nm) made of a multiferroic thin film. In such a device, spin transport across the barrier can be electrically tuned. In another configuration, a multiferroic layer can be used as the exchange bias pinning layer. If the antiferromagnetic spin orientations in the multiferroic pinning layer can be electrically tuned, then magnetoresistance of the device can be controlled by the applied electric field. One can also explore multiple state memory elements, where data are stored both in the electric and the magnetic polarizations.