<p>The evolution and recent development of soft and stretchable dielectric elastomers have unlocked avenues for multitude applications in the fields of sensors, actuators, and energy harvesters. In lieu of rigid conductive fillers that enhance dielectric properties but degenerate mechanical properties in elastomers, the use of liquid metal particles as fillers has emerged as a significant alternative, exhibiting excellent amplification of dielectric properties while preserving the mechanical properties of the parent elastomer. Increasing academic endeavors devoted to the use of liquid metals as alternative fillers have garnered attention among researchers, resulting in notable advancements in the field of composites, with one of the highlights being elastomeric dielectrics demonstrating exceptional elasto-dielectric behaviors. With the intention to accelerate research progress in this domain and cater to wider attention among the enthusiasts, this review attempts to encompass all the significant aspects of liquid metal incorporated elastomeric dielectrics (LMEDs), viz., fabrication procedures, elasto-dielectric properties, factors leading to dielectric failure, and recent applications in the field of soft and stretchable electronics. This review is meant to serve as a comprehensive guide detailing the essential information and emphasis needed to further develop and ameliorate the current research related to LMEDs.</p>