Hydrogen energy is widely regarded as a promising clean energy alternative to fossil fuels due to its high energy density and excellent environmental compatibility. Electrochemical water splitting has emerged as one of the most viable technologies for large‐scale hydrogen production, driving the requirements to develop efficient hydrogen evolution reaction (HER) catalysts. Fullerenes, with their unique molecular architecture and electronic properties, are emerging as a highly promising class of electrocatalysts for the HER, offering exceptional catalytic activity and stability. This concept summarizes the recent advancements in fullerene‐based electrocatalysts, highlighting the dual functionality of fullerenes as both a template for synthesizing atomically dispersed, subnanometer metal clusters and a modulator of electronic interactions at catalytically active interfaces. These developments have not only enhanced HER efficiency but also unlocked innovative possibilities for deploying fullerene‐based electrocatalysts across a wider spectrum of catalytic transformations.