Direct seawater electrolysis is a promising technology within the carbon-neutral energy framework, leveraging renewable resources such as solar, tidal, and wind energy to generate hydrogen and oxygen without competing with the demand for pure water. High-selectivity, high-efficiency, and corrosion-resistant multifunctional electrocatalysts are essential for practical applications, yet producing stable and efficient catalysts under harsh conditions remains a significant challenge. This review systematically summarizes recent advancements in advanced electrocatalysts for seawater splitting, focusing on their multifunctional designs for selectivity and chlorine corrosion resistance. We analyze the fundamental principles and mechanisms of seawater electrocatalytic reactions, discuss the challenges, and provide a detailed overview of the progress in nanostructures, alloys, multi-metallic systems, atomic dispersion, interface engineering, and functional modifications. Continuous research and innovation aim to develop efficient, eco-friendly seawater electrolysis systems, promoting hydrogen energy application, addressing efficiency and stability challenges, reducing costs, and achieving commercial viability.