Electrochemical sensors have been recognized as crucial tools for monitoring comprehensive chemical information, especially in the detection of a significant class of molecules known as phenolic compounds. These compounds can be present in water as hazardous analytes and trace contaminants, as well as in living organisms where they regulate their metabolism. The sensitive detection of phenolic compounds requires highly efficient and cost-effective electrocatalysts to enable the development of high-performance sensors. Therefore, this review focuses on the development of advanced materials with excellent catalytic activity as alternative electrocatalysts to conventional ones, with a specific emphasis on transition metal-based electrocatalysts for the detection of phenolic compounds. This research is particularly relevant in diverse sectors such as water quality, food safety, and healthcare.