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This review summarizes recent progress in the development of cobalt-based catalytic centers as the most potentially useful alternatives to noble metal-based electrocatalysts (Pt-, Ir-, and Ru-based) towards the oxygen reduction reaction (ORR), oxygen evolution reaction (OER), and hydrogen evolution reaction (HER) in acid and alkaline media. A series of cobalt-based high-performance electrocatalysts have been designed and synthesized including cobalt oxides/chalcogenides, Co&#8315;N<i>_x</i>/C, Co-layered double hydroxides (LDH), and Co&#8315;metal-organic frameworks (MOFs). The strategies of controllable synthesis, the structural properties, ligand effect, defects, oxygen vacancies, and support materials are thoroughly discussed as a function of the electrocatalytic performance of cobalt-based electrocatalysts. Finally, prospects for the design of novel, efficient cobalt-based materials, for large-scale application and opportunities, are encouraged.