Clean water and energy are two of the most important requirements for human survival. Membrane‐based filtration represents one of the advanced technologies involved in water decontamination; while, polymer electrolyte membrane fuel cells (PEMFCs) are among the frontrunners in the alternative and renewable energy domain. It is evident that membrane‐based processes provide sustainable solution to the ever‐increasing demand of energy and clean water. Over the years, it has been realized that synthetic poly(vinyl alcohol) (PVA) is one of the potential candidates for the development of membranes, owing to its hydrophilicity, barrier property, film forming ability, crosslinking ability, biodegradability, and low cost. These properties have been widely explored for the fabrication of polymer electrolyte membranes for PEMFCs, in order to improve the ionic conductivity and methanol barrier property, as well as, to reduce the membrane fabrication cost. On the other hand, high water solubility and film forming characteristics of PVA have been used for the formation of water treatment membranes, for enhancing the antifouling property and chemical stability. This review provides in‐depth discussions and analyses on the structure and properties of various PVA‐based copolymers, and their applications as membrane materials for PEMFCs (including direct methanol and alkaline fuel cells) and water remediation.