The catalytic de/hydrogenation process is important in the fields of petrochemical refining, fuel synthesis, drug synthesis, CO2 conversion, and hydrogen synthesis, where the construction of low‐cost and high‐efficiency de/hydrogenation catalysts attracting significant attentions. The molybdenum carbide (MoxC), as a non‐noble transition metal carbide catalyst, has been widely investigated for hydrogen activation. Herein, the research progress and achievements of molybdenum carbide for catalytic de/hydrogenation are reviewed. Additional attention was paid to the structure and crystal phase of molybdenum carbide, and various modification strategies related to the catalytic activity regulation are summarized. Finally, the application prospect of molybdenum carbide catalysts is also discussed. This review provides a framework reference for further understanding the design and utilization of molybdenum carbide catalysts for catalytic de/hydrogenation and the key research problems to be addressed.