The electric eel is known as the most powerful creature to generate electricity with a discharge voltage up to 860 V and peak current up to 1 A. These surprising properties are the results of billions of years of evolution on the electrical biological structure and bulk, and now have triggered great research interest in electric eel biomimetics for designing innovated configurations and components of energy storage and conversion devices. In this review, first, the bioelectrical behavior of electric eels is surveyed, followed by the physiological structure to reveal the discharge characteristics and principles of electric organs and electrocytes. Additionally, underlying electrochemical mechanisms and models for calculating the potential and current of electrocytes are presented. Central to this review is the recent progress of electric‐eel‐inspired innovations and applications for energy storage and conversion, particularly including novel power sources, triboelectric nanogenerators, and nanochannel ion‐selective membranes for salinity gradient energy harvesting. Finally, insights on the challenges at the moment and the perspectives on the future research prospects are critically compiled. It is suggested that energy‐related electric eel biomimetics will greatly boost the development of next‐generation high performance, green, and functional electronics.