With the ever‐growing global demand for sustainable energy solutions, hydrogen has garnered significant attention as a clean, efficient, and renewable energy source. In the field of hydrogen production, catalyst research stands out as one of the foremost areas of focus. In recent years, the preparation of electrocatalysts using ionic liquids (ILs) and deep eutectic solvents (DESs) has attracted widespread attention. ILs and DESs possess unique physicochemical properties and are recognized as green media as well as functional materials. Cobalt‐based catalysts have proven to be efficient electrocatalysts for water splitting. Incorporating ILs or DESs into the preparation of cobalt‐based catalysts offers a remarkable advantage by allowing precise control over their structural design and composition. This control directly influences the adsorption properties of the catalyst's surface and the stability of reaction intermediates, thereby enabling enhanced control over reaction pathways and product selectivity. Consequently, the catalytic activity and stability of cobalt‐based catalysts can be effectively improved. In the process of preparing cobalt‐based catalysts, ILs and DESs can serve as solvents and templates. Owing to the good solubility of ILs and DESs, they can efficiently dissolve raw materials and provide a special nucleation and growth environment, obtaining catalysts with novel‐structures. The main focus of this review is to provide a detailed introduction to metal cobalt and its oxide/hydroxide derivatives in the field of water splitting, with a particular emphasis on the research progress achieved through the utilization of IL and DES. The aim is to assist readers in designing and synthesizing novel and high‐performance electrochemical catalysts.