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The commercialization of fuel cells, especially for direct formic acid fuel cells (DFAFCs) and proton‐exchange membrane fuel cells (PEMFCs), is significantly restrained by the high cost, poor stability, and sluggish kinetics of platinum group metals (PGM) catalysts for both the anodic formic acid oxidation reaction (FAOR) and the cathodic oxygen reduction reaction (ORR). Currently, it has confronted with challenges, including exploring highly active, cost‐effective, and stable catalysts to replace PGM for DFAFCs and PEMFCs. Recently, the increasing investigation has been focused on the single‐atom catalysts (SACs) to enhance the catalytic performance owing to the maximum atom utilization and highly exposed active sites. The aim of this review is to present the recent research activities on carbon supported SACs. At the beginning of the review, metal‐based SACs supported on different carbon supports, and the …