Abstract: The research on renewable energy is actively looking into electrocatalysts based on transition metal chalcogenides because nanostructured electrocatalysts support the higher intrinsic activity for both the hydrogen evolution reaction (HER) and oxygen evolution reaction (OER). A major technique for facilitating the conversion of renewable and sustainable energy is electrochemical water splitting. The aim of the review is to discuss the revelations made when trying to alter the internal and external nanoarchitectures of chalcogenides-based electrocatalysts to enhance their performance. To begin, a general explanation of the water-splitting reaction is given to clarify the key factors in determining the catalytic performance of nanostructured chalcogenides-based electrocatalysts. To delve into the many ways being employed to improve the HER's electrocatalytic performance, the general fabrication processes utilized to generate the chalcogenides-based materials are described. Similarly, to enhance the OER performance of chalcogenides-based electrocatalysts, the applied complementary techniques and the strategies involved in designing the bifunctional water-splitting electrocatalysts (HER and OER) are explained. As a conclusive remark, the challenges and future perspectives of chalcogenide-based electrocatalysts in the context of water splitting are summarized.