Transition Metal Nitrides (TMNs) are an emerging class of materials in the modern world with potential applications in energy generation, storage, and conversion. Significant attention has been devoted to two-dimensional (2D) nanomaterials owing to their numerous advantages, including high surface area, mechanical strength, conductivity, and versatility in terms of functionalization with a variety of chemical groups. The potential benefits of incorporating TMN into 2D structures make this an alluring avenue for exploration. However, research on 2D TMNs has been limited due to the difficulty in their synthesis. This review comprehensively examines various 2D TMNs based on their structure, morphology, and optical properties, and discusses the challenges in synthesizing them and attempts to overcome these limitations. The review also covers the electrochemical and photocatalytic capabilities of different TMNs and how these properties are affected by their structure and morphology. Furthermore, the review identifies the areas that require further improvement and discusses the challenges that need to be addressed to advance the research on 2D TMNs.