Recent advances in the field of energy storage devices such as supercapacitors and batteries have helped mankind to cater to their power demands to a greater extent. 2D materials‐based electrodes have attracted great interest in the recent past due to their unique properties such as large surface area, good electronic conductivity, excellent electrochemical properties, and good chemical, electrochemical, and thermal stabilities, which are essential requirements for a supercapacitor electrode to obtain high‐performance. In this review, we discuss the recent advancements in the field of 2D materials such as MXenes, transition metal dichalcogenides, phosphorene, and their composites as electrodes in high‐performance supercapacitors. The electrochemical performances of these 2D materials‐based electrodes in symmetric, asymmetric, and battery‐type hybrid supercapacitors are reviewed. Emphasis is given to the recent developments on the battery‐type hybrid supercapacitors fabricated using these 2D materials‐based electrodes. The future perspectives of these materials in the next‐generation energy storage are also briefly discussed.