Hydrogen energy is considered as an ideal replacement for traditional fossil energy sources because of its high combustion energy, clean combustion products, and abundant raw material storage. Hydrogen production by electrolysis of water is a highly efficient and feasible method. Besides, the by-product oxygen also has a high economic value. However, the slow kinetics leads to a higher than the theoretical voltage for water decomposition and requires additional energy. To deal with this problem, there is an urgent need to develop electrocatalysts for low consumption, high efficiency, and stable electrolytic water reactions. In recent years, non-precious metal nickel-based phosphide electrocatalysts have attracted a lot of attention. In this paper, three aspects of nickel-based monometallic phosphides, bimetallic phosphides, and polymetallic phosphides are reviewed. Finally, the current status, problems, and future directions of research on nickel-based phosphide electrocatalysts that do not contain precious metals are discussed.