Hydrogen energy is considered to be a desired energy storage carrier because of its high-energy density, extensive sources, and is environmentally friendly. The development of hydrogen storage material, especially liquid organic hydrogen carrier (LOHC), has drawn intensive attention to address the problem of hydrogen utilization. Hydrogen carrier is a material that can reversibly absorb and release hydrogen using catalysts at elevated temperature, in which LOHC mainly relies on the covalent bonding of hydrogen during storage to facilitate long-distance transportation and treatment. In this review, the chemical properties and state-of-the-art of LOHCs were investigated and discussed. It reviews the latest research progress with regard to liquid organic hydrogen storage materials, namely N-ethylcarbazole, and the recent progress in the preparation of efficient catalysts for N-ethylcarbazole dehydrogenation by using metal multiphase catalysts supported by carbon–nitrogen materials is expounded. Several approaches have been considered to obtain efficient catalysts such as increasing the surface area of the support, optimizing particle size, and enhancing the porous structure of the support. This review provides a new direction for the research of hydrogen storage materials and considerations for follow-up research.