The electrochemical CO2 reduction reaction (CO2RR) is a promising strategy to achieve electrical‐to‐chemical energy storage while closing the global carbon cycle. The carbon‐supported single‐atom catalysts (SACs) have great potential for electrochemical CO2RR due to their high efficiency and low cost. The metal centers’ performance is related to the local coordination environment and the long‐range electronic intercalation from the carbon substrates. This review summarizes the recent progress on the synthesis of carbon‐supported SACs and their application toward electrocatalytic CO2 reduction to CO and other C1 and C2 products. Several SACs are involved, including MNx catalysts, heterogeneous molecular catalysts, and the covalent organic framework (COF) based SACs. The controllable synthesis methods for anchoring single‐atom sites on different carbon supports are introduced, focusing on the influence that precursors and synthetic conditions have on the final structure of SACs. For the CO2RR performance, the intrinsic activity difference of various metal centers and the corresponding activity enhancement strategies via the modulation of the metal centers’ electronic structure are systematically summarized, which may help promote the rational design of active and selective SACs for CO2 reduction to CO and beyond. This review summarizes the recent work on the synthesis of carbon‐supported single‐atom catalysts (SACs) and their application in electrochemical CO2 reduction to produce CO and other C1 and C2 products. Several different types of carbon‐supported SACs are involved, including MNx catalysts, heterogeneous molecular catalysts, and the covalent organic frameworks (COFs) based single atoms.