Single-metal-atom catalysts (SMACs) with the merits of maximum atom utilization, peculiar electronic structure, and adjustable coordination environment, have emerged as the rising stars. They are not only regarded as the promising electrocatalysts, but also show unconventionally excellent alkali storage, thus enabling them for energy devices. In this work, we review the up-to-date progress of single metal atom catalysts including the detailed synthetic strategies and all sorts of applications in energy storage and conversion. In addition, we also discuss intrinsic catalytic effects, degradation mechanism, modulation approaches, support structure design, current challenges, and potential development trends. This work may shed light on developing high-performance SMACs using a variety of strategies for catalytic and energy applications.