High activity and stability are crucial for the practical use of electrocatalysts in fuel cells, metal-air batteries, and water electrolysis, including the oxygen reduction reaction, hydrogen evolution reaction, oxygen evolution reaction, and oxidation reactions of formic acid and alcohols. Electrocatalysts based on nitrogen-containing carbon (N-C) materials show promise in catalyzing these reactions; however, there is no systematic review of strategies for the engineering of active and stable N-C-based electrocatalysts. Herein, a comprehensive comparison of recently reported N-C-based electrocatalysts regarding both electrocatalytic activity and long-term stability is presented. In the first part of this review, the relationships between the electrocatalytic reactions and selection of the element to modify the N-C-based materials are discussed. Afterwards, synthesis methods for N-C-based electrocatalysts are summarized, and strategies for the synthesis of highly stable N-C-based electrocatalysts are presented. Multiple tables containing data on crucial parameters for both electrocatalytic activity and stability are displayed in this review. Finally, constructing M-N moieties is proposed as the most promising engineering strategy for stable N-C-based electrocatalysts.