Electrochemical wastewater treatment technologies are gaining attraction as sustainable alternatives for industrial and municipal wastewater management. This study conducts a comprehensive life cycle assessment to assess the environmental and economic sustainability of electrochemical methods such as electrocoagulation, electrooxidation, and electroreduction. By analyzing key stages, from raw material extraction to end‐of‐life disposal, the review aims to provide insight into their overall sustainability performance. The study also delves into environmental impact categories and utilization of methods used in quantifying the environmental implications. Moreover, a cost structure analysis and cost‐effectiveness evaluation offer insights into the economic viability of these technologies. Despite facing challenges like high initial costs and regulatory constraints, electrochemical technologies demonstrate competitive advantages in treatment efficiency and energy savings. Collaborative efforts and supportive policy frameworks are deemed crucial for overcoming barriers and fostering the widespread adoption of electrochemical technologies, thereby advancing sustainable wastewater management practices.