Bimetallic nanoparticles are a class of important electrocatalyst. They exhibit a synergistic effect that critically depends on the surface composition, which determines the surface properties and the adsorption/desorption behavior of the reactants and intermediates during catalysis. The surface composition can be varied, as nanoparticles are exposed to certain environments through surface segregation. Thermodynamically, this is caused by a difference in surface energy between the two metals. It may lead to the enrichment of one metal on the surface and the other in the core. The external conditions that influence the surface energy may lead to the variation of the thermodynamic steady state of the particle surface and, thus, offer a chance to vary the surface composition. In this review, the most recent and important progress in surface segregation of bimetallic nanoparticles and its impact in electrocatalysis are introduced. Typical segregation inducements and surface characterization techniques are discussed in detail. It is concluded that surface segregation is a critical issue when designing bimetallic catalysts. It is necessary to explore methods to control it and utilize it as a way towards producing robust, bimetallic electrocatalysts.