Photoelectrochemical (PEC) hydrogen generation is a promising technology for green hydrogen production yet faces difficulties in achieving stability and efficiency. The scientific community is pushing toward the development of new electrode materials and a better understanding of the underlying reactions and degradation mechanisms. Advances in photocatalytic materials are being pursued through the development of heterojunctions, tailored crystal nanostructures, doping, and modification of solid-solid and solid-electrolyte interfaces. Operando and in situ techniques are utilized to deconvolute the charge transfer mechanisms and degradation pathways. In this review, both materials development and Operando characterization are covered for advancing PEC technologies. The recent advances made in the PEC materials are first reviewed including the applied improvement strategies for transition metal oxides, nitrites, chalcogenides, Si, and group III-V semiconductor materials. The efficiency, stability, scalability, and electrical conductivity of the aforementioned materials along with the improvement strategies are compared. Next, the Operando characterization methods and cite selected studies applied for PEC electrodes are described. Operando studies are very successful in elucidating the reaction mechanisms, degradation pathways, and charge transfer phenomena in PEC electrodes. Finally, the standing challenges and the potential opportunities are discussed by providing recommendations for designing more efficient and electrochemically stable PEC electrodes.