Microbial fuel cell (MFC) technology has the potential to become a major renewable energy resource by degrading organic pollutants in wastewater. The performance of MFC directly depends on the kinetics of the electrode reactions within the fuel cell, with the performance of the electrodes heavily influenced by the materials they are made from. A wide range of materials have been tested to improve the performance of MFCs. In the past decade, carbon-based nanomaterials have emerged as promising materials for both anode and cathode construction. Composite materials have also shown to have the potential to become materials of choice for electrode manufacture. Various transition metal oxides have been investigated as alternatives to conventional expensive metals like platinum for oxygen reduction reaction. In this review, different carbon-based nanomaterials and composite materials are discussed for their potential use as MFC electrodes.