Glycerol electrooxidation has attracted immense attention due to the economic advantage it could add to biodiesel production. One of the significant challenges for the industrial development of glycerol electrooxidation process is the search for a suitable electrocatalyst that is sustainable, cost effective, and tolerant to carbonaceous species, results in high performance, and is capable of replacing the conventional Pt/C catalyst. We review suitable, sustainable, and inexpensive alternative electrocatalysts with enhanced activity, selectivity, and durability, ensuring the economic viability of the glycerol electrooxidation process. The alternatives discussed here include Pd-based, Au-based, Ni-based, and Ag-based catalysts, as well as the combination of two or three of these metals. Also discussed here are the prospective materials that are yet to be explored for glycerol oxidation but are reported to be bifunctional (being capable of both anodic and cathodic reaction). These include heteroatom-doped metal-free electrocatalysts, which are carbon materials doped with one or two heteroatoms (N, B, S, P, F, I, Br, Cl), and heteroatom-doped nonprecious transition metals. Rational design of these materials can produce electrocatalysts with activity comparable to that of Pt/C catalysts. The takeaway from this review is that it provides an insight into further study and engineering applications on the efficient and cost-effective conversion of glycerol to value-added chemicals.