Electrocatalyst degradation due to dissolution is one of the major challenges in electrochemical energy conversion technologies such as fuel cells and electrolysers. While tendencies towards dissolution can be grasped considering available thermodynamic data, the kinetics of material's stability in real conditions is still difficult to predict and have to be measured experimentally, ideally in-situ and/or on-line. On-line inductively coupled plasma mass spectrometry (ICP-MS) is a technique developed recently to address exactly this issue. It allows time-and potential-resolved analysis of dissolution products in the electrolyte during the reaction under dynamic conditions. In this work, applications of on-line ICP-MS techniques in studies embracing dissolution of catalysts for oxygen reduction (ORR) and evolution (OER) as well as hydrogen oxidation (HOR) and evolution (HER) reactions are reviewed.