Metal phthalocyanines (MPcs) are promising materials for electrochemical sensing due to their physicochemical properties, including redox activity, structural versatility, and chemical stability. These materials can incorporate various metals into their central core, ensuring tunable catalytic activity and enhanced sensitivity and selectivity. This makes MPcs valuable for designing advanced electrochemical sensors, which require precise and reliable performance for applications ranging from environmental monitoring to biomedical diagnostics. This review discusses the advancements in MPc‐based catalysts for electrochemical sensors, focusing on their superior catalytic properties, stability under diverse operating conditions, and high functionalization potential. The unique redox behavior of the metal center in MPcs ensures improved detection capabilities of analytes like biomolecules, heavy metal ions, and environmental pollutants, positioning MPc materials as a cornerstone in future sensor technology. MPc‐based sensors have diverse applications across various fields, including environmental sensing, medical diagnostics, and industrial process monitoring. Recent reports highlight the practical relevance and growing importance of MPcs in real‐world applications. Challenges associated with MPc‐based sensors include scalability, environmental stability, and integration into practical devices. The review concludes with a discussion on the future outlook on MPcs in the design and development of next‐generation electrochemical sensors, paving the way for more efficient, cost‐effective, and reliable detection technologies.