<p>Supercapacitors have come out as a significant alternative to fuel cells and batteries, providing an effective solution for optimizing power density while ensuring robust energy retention. Recent evolution in this field have predominantly concentrated on utilizing conducting polymers and carbon-based materials in the fabrication of advanced materials for electrode, thereby enhancing energy storage capabilities. The elevated requirement for energy storage systems points towards MXene, an engrossing class of materials, with 2-dimensional transitional metal carbides and/or nitrides. Their exceptional electrochemical properties position them as promising candidates for diverse energy applications. This review aims to elucidate the advantageous attributes of MXenes, while also acknowledging their limitations. Furthermore, it discusses the importance of integrating MXenes with rare earth and transition metal oxides to optimize their performance. The electrochemical interactions between various MXenes and materials such as vanadium oxide, tungsten oxide, ruthenium oxide, niobium oxide, lanthanum oxide and gadolinium oxide are examined, highlighting their noteworthy physicochemical characteristics relevant to supercapacitor applications. Additionally, this review addresses scalable synthesis techniques for MXenes along with the challenges associated with their optimization. It provides a comprehensive evaluation of past and current research, as well as future perspectives and challenges on the strategic combination of MXenes with transition and rare earth metal oxides. The overarching objective is to attain enhanced electrochemical performance, characterized by high specific capacitance, worthy charge/discharge rates, long cycling stability and overall efficiency in energy storage technologies and conversion systems.</p>