Supercapacitors gained extensive interest due to their superior power delivery, stability, and cycling performances compared to the existing battery systems. Developing highly stable and electrochemically active electrode materials is the main task for the fabrication of supercapacitors in which a wide range of materials (e.g., metal oxides, metal hydroxides, chalcogenides, carbon structures, conducting polymers, metal organic frameworks, etc.) in their pristine, hybrid, functionalized, and composite forms have been extensively explored. In recent years, a new family of two-dimensional (2D) layered nanomaterials called “MXenes” receives increasing importance as the electrode material for supercapacitor applications due to their advantages such as higher specific surface area, electroactive surface functionality, electrical conductivity, and structural stability against mechanical stress and electrolytic environment. Further, the capacitive performances of MXene materials have been enhanced by functionalizing/modifying them with various pseudocapacitive entities. As the demand for MXene materials towards supercapacitor applications increases continuously, it’s necessary to have the knowledge on current trends in their synthesis, characterization, and modifications. Hence, the present chapter summarizes the research accomplishments in understanding the relationship between their structures, physicochemical properties, and synthetic methods which are discussed along with the current usage and future perspectives of MXene-based materials for supercapacitor applications.