The most feasible technique for producing green hydrogen is water electrolysis. In recent years, there has been significant study conducted on the use of transition metal compounds as electrocatalysts for both anodes and cathodes. Peoples have attempted several strategies to improve the electrocatalytic activity of their original structure. One such technique involves introducing rare earth metals or creating heterostructures with compounds based on rare earth metals. The incorporation of rare earth metals significantly enhances the activity by many folds, while their compounds offer structural stability and the ability to manipulate the electronic properties of the original system. These factors have led to a recent boom in investigations on rare earth metal‐based electrocatalysts. There is currently a pressing demand for a review article that can provide a comprehensive overview of the scientific advancements and elucidate the mechanistic aspects of the impact of lanthanide doping. This review begins by explaining the electronic structure of the lanthanides. We next examine the mechanistic aspects, followed by recent advancements in lanthanide doping and heterostructure formation for water electrolysis applications. It is expected that this particular effort will benefit a broad audience and stimulate more research in this area of interest.image