The catalytic tetranuclear manganese-calcium-oxo cluster in the photosynthetic reaction center, photosystem II, provides an excellent blueprint for light-driven water oxidation in nature. The water oxidation reaction has attracted intense interest due to its potential as a renewable, clean, and environmentally benign source of energy production. Inspired by the oxygen-evolving complex of photosystem II, a large of number of highly innovative synthetic bio-inspired molecular catalysts are being developed that incorporate relatively cheap and abundant metals such as Mn, Fe, Co, Ni, and Cu, as well as Ru and Ir, in their design. In this review, we briefly discuss the historic milestones that have been achieved in the development of transition metal catalysts and focus on a detailed description of recent progress in the field.