The effects of the orientation of a graphene sheet, the edge structure of carbon nanofibers, and different surface functional groups on proton affinity, interactions with metal nanoparticles, and electronic modification of these structures, together with their catalytic consequences, have been reviewed. The ratio of prismatic to basal sites on the edge of carbon nanofibers has a remarkable influence on the properties of both the CNFs and the metal nanoparticles that are supported on it. The proton affinity, interactions with metal particles, and electronic density of metal particles can be further manipulated by fine‐tuning the functional groups, such as oxygen groups, and by B/N‐doping of the CNFs. The possibilities of using carbon nanofibers with different graphite‐sheet orientations as a platform for rational catalyst design are discussed.