Chemiresistive sensing lies in its ability to provide fast, accurate, and reliable detection of various gases in a cost‐effective and non‐invasive manner. In this context, graphene‐functionalized metal oxides play crucial role in hydrogen gas sensing. However, a cost‐effective, defect‐free, and large production schemes of graphene‐based sensors are required for industrial applications. This review focuses on graphene‐functionalized metal oxide nanostructures designed for gaseous molecules detection, mainly hydrogen gas sensing applications. For the convenience of the reader and to understand the role of graphene‐metal oxide hybrids (GMOH) in gas sensing activities, a brief overview of the properties and synthesis routes of graphene and GMOH have been reported in this paper. Metal oxides play an essential role in the GMOH construct for hydrogen gas sensing. Therefore, various metal oxides‐decorated GMOH constructs are detailed in this review as gas sensing platforms, particularly for hydrogen detection. Finally, specific directions for future research works and challenges ahead in designing highly selective and sensitive hydrogen gas sensors have been highlighted. As illustrated in this review, understanding of the metal oxides‐decorated GMOH constructs is expected to guide ones in developing emerging hybrid nanomaterials that are suitable for hydrogen gas sensing applications.