Hydrogen production from water electrolysis provides a green and sustainable route. Platinum (Pt)-based materials have been regarded as efficient electrocatalysts for the hydrogen evolution reaction (HER). However, the large-scale commercialization of Pt-based catalysts suffers from the high cost. Therefore, ultralow-Pt-loading electrocatalysts, which can reach the balance of low cost and high HER performance, have attracted much attention. In this review, representative promising synthetic strategies, including wet chemistry, annealing, electrochemistry, photochemistry, and atomic layer deposition are summarized. Further, the interaction between different electrocatalyst components (transition metals and their derivatives) and Pt is discussed. Notably, this interaction can effectively accelerate the kinetics of the HER, enhancing the catalytic activity. At last, current challenges and future perspectives are briefly discussed.