This study investigated the structural and electrochemical characteristics of binary and quaternary systems comprising nickel, cobalt, and iron selenides. The powders were obtained via a solvothermal route. X-ray diffraction (XRD) and Raman spectroscopy revealed significant phase diversity. It was observed that increasing the proportion of d-block metals in quaternary systems enhances structural entropy, potentially leading to more homogeneous and stable structures dominated by energetically preferred components such as nickel. The electrochemical analysis indicated that the binary system exhibited a reversible redox reaction, with nickel selenide-based samples demonstrating the highest electrochemically active surface area. Quaternary systems display varying degrees of electrochemical stability. An equal contribution of nickel, cobalt, and iron appears beneficial in achieving stable electrodes. This research contributes to understanding the relationship between transition metal selenides’ structural, morphological, and electrochemical properties, providing insights into their potential applications in hydrogen generation.