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An efficient and robust water oxidation catalyst based on abundant and cheap materials is the key to converting solar energy into fuels through artificial photosynthesis for the future of humans. The development of molecular water oxidation catalysts (MWOCs) is a smart way to achieve promising catalytic activity, thanks to the clear structures and catalytic mechanisms of molecular catalysts. Efficient MWOCs based on noble‐metal complexes, for example, ruthenium and iridium, have been well developed over the last 30 years; however, the development of earth‐abundant metal‐based MWOCs is very limited and still challenging. Herein, the promising prospect of iron‐based MWOCs is highlighted, with a comprehensive summary of previously reported studies and future research focus in this area.