The field of droplet electrohydrodynamics (EHD) emerged with a seminal work of G.I. Taylor in 1966, who presented the so-called leaky dielectric model (LDM) to predict the droplet shapes undergoing distortions under an electric field. Since then, the droplet EHD has evolved in many ways over the next 55 years with numerous intriguing phenomena reported, such as tip and equatorial streaming, Quincke rotation, double droplet breakup modes, particle assemblies at the emulsion interface, and many more. These phenomena have a potential of vast applications in different areas of science and technology. This paper presents a review of prominent droplet EHD studies pertaining to the essential physical insight of various EHD phenomena. Here, we discuss the dynamics of a single-phase emulsion droplet under weak and strong electric fields. Moreover, the effect of the presence of particles and surfactants at the emulsion interface is covered in detail. Furthermore, the EHD of multi-phase double emulsion droplet is included. We focus on features such as deformation, instabilities, and breakups under varying electrical and physical properties. At the end of the review, we also discuss the potential applications of droplet EHD and various challenges with their future perspectives.