Two‐dimensional transition metal carbide/nitrides (MXenes) have recently received extensive attention due to their diverse material types and versatile structures, large‐scale production, and excellent properties. MXene sheets possess abundant hydrophilic functional groups on their surface, which enable them to be assembled into macroscopic fibers or compounded with other functional materials to produce composite fibers. This review aims to provide a comprehensive analysis of MXene fibers in terms of their fabrication, structure, properties, and recent applications as flexible and wearable electronics. The review will discuss the principles of different methods used to synthesize MXene fibers and analyze the characteristics of the as‐synthesized fibers, with a particular focus on the wet spinning method. The fundamental relationships between the microstructure of MXene fibers and their resulting mechanical and electrical properties will be explored. Furthermore, the review will elaborate on the progress made in MXene‐based fibers in the rapidly growing field of wearable electronics applications, provide insights into future development of MXene fiber materials and propose solutions to the challenges facing practical applications.