Iron cobalt oxides, such as typical FeCo₂O₄ and CoFe₂O₄, are two spinel structured transitional metal oxide materials with excellent electrochemical performance. As the electrodes, they have been widely applied in the current energy storage and conversion processes such as supercapacitors, Lithium-ion batteries and fuel cells. Based on synthesis approaches and controlled conditions, these two materials exhibited broad morphologies and nanostructures and thus distinct electrochemical performance. Some of them have shown promising applications as electrodes in energy storage and conversion. The incorporation with other materials to form composites further improved their performance. This review briefly summarized the recent applications of FeCo₂O₄ and CoFe₂O₄ in energy storage and conversion, current understandings on mechanisms and especially the relevance of morphologies and structures and composites to electrochemical performance. Some recommendations were finally put forward addressing current issues and future prospects on electrodes of FeCo₂O₄ and CoFe₂O₄ based materials in energy storage and conversion, implying there was still space to further optimize their performance.