Increasing energy demands and environment awareness have promoted extensive research on the development of alternative energy conversion and storage technologies with high efficiency and environmental friendliness. Among them, water splitting is very appealing, and is receiving more and more attention. The critical challenge of this renewable-energy technology is to expedite the oxygen evolution reaction (OER) because of its slow kinetics and large overpotential. Therefore, developing efficient electrocatalysts with high catalytic activities is of great importance for high-performance water splitting. In the past few years, much effort has been devoted to the development of alternative OER electrocatalysts based on transition-metal elements that are low-cost, highly efficient, and have excellent stability. Here, recent progress on the design, synthesis, and application of OER electrocatalysts based on transition-metal elements, including Co, Ni, and Fe, is summarized, and some invigorating perspectives on the future developments are provided.