Oxygen electrocatalysis has aroused considerable interest over the past years because of the new energy technologies boom in hydrogen energy and metal–air battery. However, due to the sluggish kinetic of the four‐electron transfer process in oxygen reduction reaction and oxygen evolution reaction, the electro‐catalysts are urgently needed to accelerate the oxygen electrocatalysis. Benefit from the high atom utilization efficiency, unprecedentedly high catalytic activity, and selectivity, single‐atom catalysts (SACs) are considered the most promising candidate to replace the traditional Pt‐group‐metal catalysts. Compared with SACs, the dual‐atom catalysts (DACs) are attracting more attraction including higher metal loading, more versatile active sites, and excellent catalytic activity. Therefore, it is essential to explore the new universal methods approaching to the preparation, characterization, and to elucidate the catalytic mechanisms of the DACs. In this review, several general synthetic strategies and structural characterization methods of DACs are introduced and the involved oxygen catalytic mechanisms are discussed. Moreover, the state‐of‐the‐art electrocatalytic applications including fuel cells, metal–air batteries, and water splitting have been sorted out at present. The authors hope this review has given some insights and inspiration to the researches about DACs in electro‐catalysis.