Green hydrogen energy from electrocatalytic hydrogen evolution reactions (HERs) has gained much attention for its advantages of low carbon, high efficiency, interconnected energy medium, safety, and controllability. Non-precious metals have emerged as a research hotspot for replacing precious metal catalysts due to low cost and abundant reserves. However, maintaining the stability of non-precious metals under harsh conditions (e.g., strongly acidic, alkaline environments) remains a significant challenge. By leveraging the curling properties of two-dimensional materials, a new class of catalysts, encapsulating transition metal nanoparticles inside carbon (TM@C) chainmail, has been successfully developed. This catalyst can effectively isolate the active metal from direct contact with harsh reaction media, thereby delaying catalyst deactivation. Furthermore, the electronic structure of the carbon layer can be regulated through the transfer of electrons, which stimulates its catalytic activity. This addresses the issue of the insufficient stability of traditional non-precious metal catalysts. This review commences with a synopsis of the synthetic advancement of the engineering of TM@C chainmail catalysts. Thereafter, a critical discussion ensues regarding the electrocatalytic performance of TM@C chainmail catalysts during hydrogen production. Ultimately, a comprehensive review of the conformational relationship between the structure of TM@C chainmail catalysts and HER activity is provided, offering substantial support for the large-scale application of hydrogen energy.