Capturing CO2 from the atmosphere and converting it into fuels are an efficient strategy to stop the deteriorating greenhouse effect and alleviate the energy crisis. Among various CO2 conversion approaches, electrocatalytic CO2 reduction reaction (CO2RR) has received extensive attention because of its mild operating conditions. However, the high onset potential, low selectivity toward multi-carbon products and poor cruising ability of CO2RR impede its development. To regulate product distribution, previous studies performed electrocatalyst modification using several universal methods, including composition manipulation, morphology control, surface modification, and defect engineering. Recent studies have revealed that the cathode and electrolytes influence the selectivity of CO2RR via pH changes and ionic effects, or by directly participating in the reduction pathway as cocatalysts. This review summarizes the state-of-the-art optimization strategies to efficiently enhance CO2RR selectivity from two main aspects, namely the cathode electrocatalyst and the electrolyte.