Aluminum air batteries (AABs) are a desirable option for portable electronic devices and electric vehicles (EVs) due to their high theoretical energy density (8100 Wh K−1), low cost, and high safety compared to state‐of‐the‐art lithium‐ion batteries (LIBs). However, numerous unresolved technological and scientific issues are preventing AABs from expanding further. One of the key issues is the catalytic reaction kinetics of the air cathode as the fuel (oxygen) for AAB is reduced there. Additionally, the performance and price of an AAB are directly influenced by an air electrode integrated with an oxygen electrocatalyst, which is thought to be the most crucial element. In this study, we covered the oxygen chemistry of the air cathode as well as a brief discussion of the mechanistic insights of active catalysts and how they catalyze and enhance oxygen chemistry reactions. There is also extensive discussion of research into electrocatalytic materials that outperform Pt/C such as nonprecious metal catalysts, metal oxide, perovskites, metal‐organic framework, carbonaceous materials, and their composites. Finally, we provide an overview of the present state, and possible future direction for air cathodes in AABs.