Exploring efficient two-dimensional (2D) photocatalysts for solar-driven water splitting into hydrogen and oxygen is crucial for sustainable hydrogen energy production. In this study, we investigated the suitability of novel 2D tellurophosphates M2P2Te6 (M=Mg, Ca, Sr, Ba, Ra) for photocatalytic overall water splitting using density functional theory (DFT) approach. The stability of tellurophosphates was assessed based on formation energies, phonon dispersions, ab initio molecular dynamics, and elastic modulus results. These monolayers have desirable direct bandgaps (∼1.6 – 2.2 eV) for efficient light absorption, and their valence and conduction bands ideally straddle both the oxidation and reduction potential of water along with the ability to reduce CO2 to hydrocarbons or carbonaceous products. Moreover, Gibbs free energies of Hydrogen Evolution Reaction (HER) and Oxygen Evolution Reaction (OER) of tellurophosphate monolayers are also computed and display that these monolayers are viable photocatalysts under the influence of applied external potential. The tellurophosphates monolayers show strong optical absorption, with an absorption coefficient reaching up to 105 cm-1, across both the visible and UV regions of the solar spectrum, accompanied by high carrier mobility (order of 103 cm2 V-1s-1). The predicted solar-to-hydrogen efficiency of all monolayers exceeds 12%, fulfilling the criteria for commercial and economic viability in solar hydrogen production. The theoretical findings of current study imply that novel 2D tellurophosphate monolayers are promising candidates for optoelectronics, especially as photocatalysts for overall water splitting and CO2 reduction.