A theoretical and experimental study gives insights into the nature of the metal–boron electronic interaction in boron‐bearing intermetallics and its effects on surface hydrogen adsorption and hydrogen‐evolving catalytic activity. Strong hybridization between the d orbitals of transition metal (TM) and the sp orbitals of boron exists in a family of fifteen TM–boron intermatallics (TM:B=1:1), and hydrogen atoms adsorb more weakly to the metal‐terminated intermetallic surfaces than to the corresponding pure metal surfaces. This modulation of electronic structure makes several intermetallics (e.g., PdB, RuB, ReB) prospective, efficient hydrogen‐evolving materials with catalytic activity close to Pt. A general reaction pathway towards the synthesis of such TMB intermetallics is provided; a class of seven phase‐pure TMB intermetallics, containing V, Nb, Ta, Cr, Mo, W, and Ru, are thus synthesized. RuB is a high‐performing, non‐platinum electrocatalyst for the hydrogen evolution reaction.