Water electrolyzer is crucial for producing clean hydrogen, but the traditional approach faces challenges owing to the oxygen evolution reaction (OER) slow kinetics at the anode. Hybrid water splitting replaces the OER with the oxidation of an organic molecule to enhance hydrogen production along with value‐added products. The scarcity of affordable and highly effective catalysts remains a major challenge. MXene, a 2D nanomaterial, has gained substantial attention for its enviable properties, for instance high conductivity, hydrophilicity, and substantial surface area. This review discusses experimental methods for synthesizing MXene and MXene‐based nanocomposites. Furthermore, the small molecules oxidation such as benzyl alcohol, methanol, ethanol, urea, hydrazine, furfural, and formic acid as alternatives to the oxygen evolution reaction is examined. Finally, an understanding of imminent research and the development of MXene‐associated materials in electrocatalytic applications are presented.