Exploring efficient and cost‐saving electrocatalysts is essential to the renewable energy storage and utilization, which is still in its embryonic period. MOFs have drawn tremendous attention due to their adjustability, abundant active sites, and plentiful pores. Notably, satisfactory electrocatalytic performance has been achieved by MOFs‐based electrocatalysts comparable to traditional electrocatalysts. State‐of‐the‐art works about the MOFs‐based electrocatalysts for hydrogen evolution reaction (HER), oxygen evolution reaction (OER), and ORR were summarized in this review. This review comprises a series of modifying strategies of MOFs and their derivatives, from aspects of structure, composition, and morphology. Furthermore, the active sites and functional mechanisms’ recognition are involved in this review expecting to provide reference for rationally designing efficient electrocatalysts. At last, the current status, challenges, and perspectives of MOFs‐based electrocatalysts are also discussed.