For his card, the PM chose a picture of he and wife Samantha surrounded by flag-waving children as the Olympic torch, carried by Kate Nesbitt, arrived in Downing Street.
Mr Miliband went for a more relaxed look for his card, selecting a very smiley family portrait of the Labour leader with his wife Justine and sons Daniel, three, and two-year-old Samuel.
Aides to Mr Milband revealed the thinking behind the choice of photo.
"Ed's family are at the centre of everything he does and he is looking forward to spending time with them this Christma," said a party source.
Only Deputy PM and leader of the Lib Dems, Nick Clegg, has gone for a more modest, keep-my-family-out-of-it design.
His card is a seasonal collage featuring Father Christmas and a snowman by eight-year-old Caitlin Costello, who won a competition to feature on the Lib Dem leader's card. On the back of the card is the second-placed entry by Cameron Delaney, nine, and information about the work of the hospital.
Mr Clegg said: "The cards designed by the children were fantastic festive efforts. We were so impressed, we chose two - one for the front and one for the back.
"Sheffield Children's Hospital do amazing work all year round but especially for those children who have to be in hospital over the Christmas period. It's a cause very close to mine and Miriam's heart."
But to see much worse, have a look at these crackers Christmas cards...