We introduce the concept of metamaterial analog computing, based on suitably designed metamaterial blocks that can perform mathematical operations (such as spatial differentiation, integration, or convolution) on the profile of an impinging wave as it propagates through these blocks. Two approaches are presented to achieve such functionality: (i) subwavelength structured metascreens combined with graded-index waveguides and (ii) multilayered slabs designed to achieve a desired spatial Green's function. Both techniques offer the possibility of miniaturized, potentially integrable, wave-based computing systems that are thinner than conventional lens-based optical signal and data processors by several orders of magnitude.