Carbon dioxide conversion into useful products has been gaining considerable attention as a global‐warming‐mitigation technique. The electrochemical conversion of CO2 into high‐value chemicals involves the utilization of electrical energy in the presence of an effective catalyst. The process products depend on the number of transferred electrons during the reaction and the characteristics of the electrode. Recently, electrodes coupled with active catalysts have been used to convert CO2 into valuable products including formic acid, hydrocarbons, and syngas. This review offers an overview of the recent literature on the electrochemical conversion of CO2 to valuable products, with an emphasis on the production of formate/formic acid. In addition, it compares the main features of electrochemical conversion to other techniques and summarizes their key advantages. It also provides future perspective for research and development, such as the need for novel and selective catalysts to obtain high conversion and product yield with low energy consumption.