This review discusses the latest advances in electrodeposition of nanostructured catalysts for electrochemical energy conversion: fuel cells, water splitting, and carbon dioxide electroreduction. The method excels at preparing efficient and durable nanostructured materials, such as nanoparticles, single atom clusters, hierarchical bifunctional combinations of hydroxides, selenides, phosphides, and so on. Yet, in most cases, chemical composition cannot be decoupled from catalyst morphology. This compromises the rational design of electrodeposition procedures because performance indicators depend on both morphology and surface chemistry. We expect electrodeposition will keep unraveling its potential as the preferred method for electrocatalyst synthesis once a deeper understanding of the electrochemical growth process is combined with complex chemistries to have control of the morphology and the surface composition of complex (bifunctional) electrocatalysts.