Molecular spintronics or spin‐based electronics, which utilizes both the spin degrees of freedom and electron charge, has become a hot topic in modern science. Since the introduction of spintronics in 1988, many efforts have been devoted to controlling spin‐polarized current using an external magnetic field, leading to the implementation of commercial solid‐state devices based on the giant magnetoresistance effect. In molecular spintronics, much progress has been achieved with organic molecules, but the role played by chiral molecules is yet to be explored in detail, while it promises to play a role in the future. It has been proved that the interaction of electrons with chiral molecules is spin specific, as supported by several experimental tools, and by theoretical studies. This effect is named “chiral‐induced spin selectivity” (CISS). CISS is based on the fact that chiral molecules exhibit spin‐specific transport properties, and hence can be used as a substitute for ferromagnetic materials. Here, recent spin‐dependent electrochemistry results are highlighted, where chiral molecules are immobilized on a ferromagnetic electrode. Practical applications of the CISS effect, for spin control of charge transport in complex molecular architectures, and in the water‐splitting process are also reviewed.