Metal–support interaction (MSI) is considered a key effect of electronic and geometric structures of catalysts on tuning catalytic performance. The oxygen evolution reaction (OER) is a crucial process during energy conversion and storage. However, the OER process requires the help of noble metal catalysts to reduce the reaction overpotential, enhance reactivity with intermediates, and maintain good operating stability. Carbon–supported metal catalysts have been considered candidates for noble metal catalysts for OER. MSI occurs at the interface of carbon supports and metals, affecting the catalytic performance through electronic and geometric modulation. MSI can influence the catalytic performance and change reaction pathways from charge redistribution, electron transfer, chemical coordination and bonding, and steric effect. Connecting MSI effects with the OER mechanism can provide theoretical guidance and a practical approach to the design of efficient catalysts, including the modulation of particle size, morphology, heteroatom doping, defect engineering, and coordination atom and number. Advantage can be taken of MSI modulation between metal compounds and carbon supports to provide guidance for catalyst design.