Atomically thin sheets of two‐dimensional (2D) transition metal dichalcogenides (TMDs) have attracted interest as high capacity electrode materials for electrochemical energy storage devices owing to their unique properties (high surface area, high strength and modulus, faster ion diffusion, and so on), which arise from their layered morphology and diversified chemistry. Nevertheless, low electronic conductivity, poor cycling stability, large structural changes during metal‐ion insertion/extraction along with high cost of manufacture are challenges that require further research in order for TMDs to find use in commercial batteries and supercapacitors. Here, a systematic review of cutting‐edge research focused on TMD materials beyond the widely studied molybdenum disulfide or MoS2 electrode is reported. Accordingly, a critical overview of the recent progress concerning synthesis methods, physicochemical and electrochemical properties is given. Trends and opportunities that may contribute to state‐of‐the‐art research are also discussed.