With the increasing demand for next‐generation electrochemical energy storage systems, various kinds of metal‐ion batteries have been developed in the past several decades, such as lithium‐ion batteries (LIBs), sodium‐ion batteries (NIBs), potassium‐ion batteries (KIBs), magnesium‐ion batteries (MIBs), zinc‐ion batteries (ZIBs), calcium‐ion batteries (CIBs), and aluminum‐ion batteries (AIBs). Due to its open structure, large interlayer spacings, multiple valence states, and reversible structural variations, layered V2O5, including two polymorphs of single layered α‐V2O5 and double layered V2O5 ⋅ nH2O, has been reported as a universal electrode material for all kinds of metal‐ion batteries mentioned above. In this review, we aim to summarize and compare the structure evolution of α‐V2O5 and V2O5 ⋅ nH2O during the insertion/extraction of various kinds of metal‐ions. This short review is expected to be helpful to comprehensively understand the structure evolution mechanism of α‐V2O5 and V2O5 ⋅ nH2O reacting with different metallic charge carriers and inspire the development of new electrode materials for high‐performance metal‐ion batteries.