The escalating concern regarding the release of CO2 into the atmosphere poses a significant threat to the contemporary efforts in mitigating climate change. Amidst a multitude of strategies for curtailing CO2 emissions, the electrochemical CO2 reduction presents a promising avenue for transforming CO2 molecules into a diverse array of valuable gaseous and liquid products, such as CO, CH3OH, CH4, HCO2H, C2H4, C2H5OH, CH3CO2H, 1-C3H7OH and others. The mechanistic investigations of gaseous products (e.g. CO, CH4, C2H4, C2H6 and others) broadly covered in the literature. There is a noticeable gap in the literature when it comes to a comprehensive summary exclusively dedicated to coherent roadmap for the designing principles for a selective catalyst all possible liquid products (such as CH3OH, C2H5OH, 1-C3H7OH, 2-C3H7OH, 1-C4H9OH, as well as other C3-C4 products like methylglyoxal and 2,3-furandiol, in addition to HCO2H, AcOH, oxalic acid and others), selectively converted by CO2 reduction. This entails a meticulous analysis to justify these approaches and a thorough exploration of the correlation between materials and their electrocatalytic properties. Furthermore, these insightful discussions illuminate the future prospects for practical applications, a facet not exhaustively examined in prior reviews.