Transition‐metal compound (nitrides, carbides, phosphides, etc.) nanomaterials are under intensive research as potential advanced electrode materials in batteries, supercapacitors, and electrocatalytic water splitting. The radio‐frequency plasma‐assisted technique has emerged as a powerful tool in inducing nanoscale reactions, doping, defects, and nanostructure of electrode materials in high precision. Here, the recent application of the plasma‐assisted method in rapid conversion reactions and functionalization of electrode materials, which includes metal nitrides, phosphides, and carbon, is highlighted. The uniqueness and advantage of the plasma technique is introduced, along with the challenge for application to industrial electrode materials.