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The oxygen reduction reaction (ORR) and oxygen evolution reaction (OER) are crucial reactions in energy conversion and storage systems including fuel cells, metal–air batteries, and electrolyzers. Developing low‐cost, high‐efficiency, and durable non‐noble bifunctional oxygen electrocatalysts is the key to the commercialization of these devices. Here, based on an in‐depth understanding of ORR/OER reaction mechanisms, recent advances in the development of non‐noble electrocatalysts for ORR/OER are reviewed. In particular, rational design for enhancing the activity and stability and scalable synthesis toward the large‐scale production of bifunctional electrocatalysts are highlighted. Prospects and future challenges in the field of oxygen electrocatalysis are presented.

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