The quest for economical and sustainable electrocatalysts to facilitate the hydrogen evolution reaction (HER) is paramount in addressing the pressing challenges associated with carbon dioxide emissions. Molybdenum carbide-based nanomaterials have emerged as highly promising electrocatalysts for HER due to their Pt-like catalytic proficiency, exceptional stability, and the versatility of their crystal phases. Within this comprehensive review, we explore the diverse methodologies for synthesizing molybdenum carbides, including solid-gas, solid-solid, and solid-liquid phase reactions. In addition, a thorough elucidation of the hydrogen generation process through water electrolysis is provided. Furthermore, a spectrum of innovative strategies aimed at augmenting the performance of molybdenum carbides in the HER milieu is introduced, encompassing cutting-edge techniques such as phase-transition engineering, the construction of heterostructures, hetero-atom doping, the integration of hybrid structures with carbon materials, defect engineering, and meticulous surface modification. The review culminates by underscoring the current challenges and the promising prospects in the advancement of electrocatalysts for hydrogen production, with a dedicated focus on molybdenum carbide-based catalysts.