Hydrogen as a potential future energy source provides a number of benefits in terms of sustainability, high energy density, and zero emissions. The production of hydrogen via water splitting is regarded as the cleanest and sustainable process. In contrast, fossil fuel combustion causes significant environmental problems through the production and release of secondary gases such as NOx, SO2, and CO2. It is vital to focus on reducing these harmful gases. CO2, a major pollutant produced by the combustion of fossil fuels and various human activities, plays a central role in the greenhouse effect and contributes to global warming. It is therefore imperative to actively eliminate and mitigate CO2 levels to preserve the global environment. MXenes and MXene‐based catalysts exhibit both outstanding hydrogen evolution reaction (HER) performance and CO2 reduction. In this review, recent progress is systematically examined and discussed in the preparation and utilization of MXenes as catalysts for HER and carbon dioxide reduction reaction (CO2RR). The discussion begins with a concise overview of the fabrication and characteristics of MXenes, followed by a comprehensive exploration of their efficacy as catalysts for HER and CO2RR.