With enhanced capabilities and widespread applications, Multimodal Large Language Models (MLLMs) are increasingly required to process and reason over multiple images simultaneously. However, existing MLLM benchmarks focus either on single-image visual reasoning or on multi-image understanding tasks with only final-answer evaluation, leaving the reasoning capabilities of MLLMs over multi-image inputs largely underexplored. To address this gap, we introduce the $\textbf{Multimodal Multi-image Reasoning Benchmark (MMRB)}$, the first benchmark designed to evaluate structured visual reasoning across multiple images. MMRB comprises $\textbf{92 sub-tasks}$ covering spatial, temporal, and semantic reasoning, with multi-solution, CoT-style annotations generated by GPT-4o and refined by human experts. A derivative subset is designed to evaluate multimodal reward models in multi-image scenarios. To support fast and scalable evaluation, we propose a sentence-level matching framework using open-source LLMs. Extensive baseline experiments on $\textbf{40 MLLMs}$, including 9 reasoning-specific models and 8 reward models, demonstrate that open-source MLLMs still lag significantly behind commercial MLLMs in multi-image reasoning tasks. Furthermore, current multimodal reward models are nearly incapable of handling multi-image reward ranking tasks.