Magnéli phase titanium suboxides (M‐TSOs) belong to a type of sub‐stoichiometric titanium oxides based on the crystal structure of rutile TiO2. They possess a unique shear structure, granting them exceptional electrical conductivity and corrosion resistance. These two advantages are crucial for electrode materials in electrochemistry, hence the significant interest from numerous researchers. However, the preparation of M‐TSOs is uneconomic due to high temperature reduction and other complex synthesis process, thus limiting their practical application in electrochemical fields. This review delves into the crystal structure, properties, and synthesis methods of M‐TSOs, and touches on their applications as electrocatalysts in wastewater treatment and electrochemical water splitting. Furthermore, it highlights the research challenges and potential future research directions in M‐TSOs.