As a flourishing member of the two-dimensional (2D) nanomaterial family, MXenes have shown great potential in various research areas. In recent years, the continued growth of interest in MXene derivatives, 2D transition metal borides (MBenes), has contributed to the emergence of this 2D material as a latecomer. Due to the excellent electrical conductivity, mechanical properties and electrical properties, thus MBenes attract more researchers' interest. Extensive experimental and theoretical studies have shown that they have exciting energy conversion and electrochemical storage potential. However, a comprehensive and systematic review of MBenes applications has not been available so far. For this reason, we present a comprehensive summary of recent advances in MBenes research. We started by summarizing the latest fabrication routes and excellent properties of MBenes. The focus will then turn to their exciting potential for energy storage and conversion. Finally, a brief summary of the challenges and opportunities for MBenes in future practical applications is presented.