Ni‐MH battery is developed and commercialized with lithium‐ion battery almost at the same time, to replace the environmentally unfriendly Ni/Cd battery and meet the increasing energy density requirements of consumer electronic devices. The success of Ni‐MH battery in consumer and industrial markets is mainly attributed to its specific negative electrode materials, namely a large variety of intermetallic compounds with reversible hydrogen absorption and desorption during charging and discharging. A unique hydrogen shuttle mechanism through the aqueous alkaline electrolyte between the layered Ni(OH)
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cathode and interstitial metal hydride anode could be thus achieved. Hydrogen as the charge carrier in Ni‐MH battery is like the lithium ion in the lithium‐ion battery. The simple and robust structure of Ni‐MH battery brings high safety under various conditions, making Ni‐MH battery very competitive in applications demanding safety priority, such as hybrid electric vehicles. The brief history, basic structure, research, and development of electrode materials of Ni‐MH battery are introduced, with the emphasis on the hydrogen storage electrode alloys. Future development of Ni‐MH battery is expected to be focused on the automotive and stationary energy storage applications by greater innovation in the hydrogen storage alloy anodes with ultra‐high capacity and overall electrochemical properties.