The implementation of electrochemical water splitting demands the development and application of electrocatalysts to overcome sluggish reaction kinetics of hydrogen/oxygen evolution reaction (HER/OER). Hollow nanostructures, particularly for hollow heterostructured nanomaterials can provide multiple solutions to accelerate the HER/OER kinetics owing to their advantageous merit. Herein, the recent advances of hollow heterostructured nanocatalysts and their excellent performance for water splitting are systematically summarized. Starting by illustrating the intrinsically advantageous features of hollow heterostructures, achievements in engineering hollow heterostructured electrocatalysts are also highlighted with the focus on structural design, interfacial engineering, composition regulation, and catalytic evaluation. Finally, some perspective insights and future challenges of hollow heterostructured nanocatalysts for electrocatalytic water splitting are also discussed.