AbstractBuckminsterfullerene (C60) and derivatives are significant in the synthesis of efficient electrocatalysts and photocatalysts. This is because of electron acceptor properties and distinctive heterostructure(s) and physicochemical characteristics. High‐performance electrocatalysts and photocatalysts are important therefore in conversions for clean energy. Here a critical assessment of advances in use of C60 and derivatives as heterostructures and “electron buffers” in catalysts are reported. Methodologies for preparing C60 composite catalysts are assessed and categorized and microscopic mechanisms for boosting catalytic performance through C60 and derivatives in important catalytic materials including, semiconductors, carbon‐based metal‐free materials, metal nanoclusters, single atoms, and metal–organic skeletons are established. Important characterizations used with C60 and derivative composites are contrasted and assessed and practical challenges to development are determined. A prospective on future directions and likely outcomes in development of high efficiency electrocatalysts and photocatalysts is provided. It is concluded that C60 and derivatives are advantageous for advanced electrocatalysts and photocatalysts with high structural integrity and boosted electron transport. The findings are expected to be of interest and benefit to researchers and manufacturers for formation of heterostructures and electron buffer areas for significantly boosted catalytic performance.