Driving innovations in the field of catalysis and electrocatalysis for a sustainable future necessitates the development of highly active, thermally stable, and low‐cost heterogeneous catalysts. Earth‐abundant transition metal‐based oxide catalysts are highly sought after to replace expensive platinum group metals. Identifying new catalyst formulations and design principles to tune materials’ bulk electronic structures and surface energetics for enhanced catalytic activity accelerates the search. Herein, the inherent attributes of mullite‐type oxides in catalyzing various oxidation reactions—crystal structure, electronic structure, stability, and catalytic activity—are reviewed. A comprehensive understanding of the nature of active sites, oxidation mechanisms, strategies to enhance the catalytic performance and regeneration of active sites, emerging opportunities in electrocatalysis and sensors, and challenges in computational methodologies is discussed. Finally, a perspective on expanding mullite‐type oxides’ viability for commercial applications in environmental and sustainable energy production through the integration of advanced synthetic approaches, operando spectroscopic techniques, and high‐throughput computational tools is outlined.