AbstractThe use of ethanol as a fuel in direct alcohol fuel cells depends not only on its ease of production from renewable sources, but also on overcoming the challenges of storage and transportation. In an ethanol‐based fuel cell, highly active electrocatalysts are required to break the C−C bond in ethanol for its complete oxidation at lower overpotentials, with the aim of increasing the cell performance, ethanol conversion rates, and fuel efficiency. In recent decades, the development of wet‐chemistry methods has stimulated research into catalyst design, reactivity tailoring, and mechanistic investigations, and thus, created great opportunities to achieve efficient oxidation of ethanol. In this Minireview, the nanomaterials tested as electrocatalysts for the ethanol oxidation reaction in acid or alkaline environments are summarized. The focus is mainly on nanomaterials synthesized by using wet‐chemistry methods, with particular attention on the relationship between the chemical and physical characteristics of the catalysts, for example, catalyst composition, morphology, structure, degree of alloying, presence of oxides or supports, and their activity for ethanol electro‐oxidation. As potential alternatives to noble metals, non‐noble‐metal catalysts for ethanol oxidation are also briefly reviewed. Insights into further enhancing the catalytic performance through the design of efficient electrocatalysts are also provided.