Ultrafast electrochemical techniques provide information about the kinetics and thermodynamics of redox processes that occur at microsecond to nanosecond timescales. This short timescale is achieved either by making very rapid transient measurements or by using ultrasmall probes to achieve very high rates of diffusion under steady‐state conditions. Micro‐ and nanoelectrodes, i.e., electrodes with critical dimensions in the micrometer to nanometer range, play pivotal roles in both approaches. Electrochemistry has several advantages over spectroscopy in that it provides direct information about electron transfer and coupled chemical reactions. Here, we discuss the key factors that influence the ability to make short timescale measurements using dynamic and steady‐state approaches, as well as applications ranging from heterogeneous and homogeneous electron transfer dynamics to analytical applications.