The seismicity of the Philippines and Taiwan provides insight into the tectonics and seismic hazards of a region characterized by subduction and collision. We summarize the seismotectonics of the Philippines and Taiwan by documenting the distribution of hypocenters for earthquakes of magnitude M ≥ 4.6 and focal mechanisms for earthquakes of magnitude M ≥ 5.0 over ∼21 years. We quantify seismicity rates (earthquake frequency) and compare seismicity distributions with proposed tectonic and faulting models. 6,187 earthquakes of magnitude M ≥ 4.6 occurred between 1 January 2000 and 31 March 2021, 79% at depths <70 km and 70% having magnitudes M < 5.0. Approximately 88 earthquakes of magnitude M ≥ 5.0 occur per year, with 12 events of magnitude M ≥ 7.0 occurring since January 2000. Seismic activity decreases exponentially between 50 and 210 km depth at a rate ∼10% faster than the global average. Intermediate and deep earthquakes at depths >70 km trace the Wadati‐Benioff zones of subducting slabs, most of which are only seismically active to depths of ∼250 km. The distribution of earthquakes at depths >70 km is likely influenced by the subduction of young lithosphere, slab tearing, and phase boundary interactions between depths of 410 and 660 km. Shallow earthquakes at depths ≤70 km are generated by megathrust, crustal, and intraslab faulting. Crustal thrust and strike‐slip faulting are the most abundant and prevalent sources of damaging earthquakes. The Philippines and Taiwan are subject to high seismic risk, similar to nearby Indonesia.