Precise control over redox properties is essential for high‐performance organic electronic devices such as organic batteries, electrochromic devices, and information storage devices. In this context, multi‐redox active carbons and hydrocarbons, represented as CxHy molecules (x≥1, y≥0), are highly sought after, because they can switch between multiple redox states. Herein, we outline the redox properties of CxHy molecules as solutes and adsorbed species. Furthermore, the limitations of evaluating their redox properties and the possible solutions are summarized. Additionally, the theoretical capacity (mAh/g) and gravimetric energy density (Wh/kg) of secondary batteries were estimated based on the redox properties of 185 CxHy molecules, which have primarily been reported in the last decade. Among them, seven CxHy molecules were found to have the potential to surpass the energy density of LiNi0.6Mn0.2Co0.2O2/graphite batteries. The use of CxHy molecules in multielectrochromic devices and multi‐bit memory is also explained. We believe that this review will encourage further utilization of CxHy molecules thereby promoting its applications in organic electronic devices.