Hydrogen peroxide (H₂O₂) is a key green oxidant extensively used in chemical synthesis, wastewater treatment and medical disinfection. Electrosynthesis of H₂O₂ through the two-electron oxygen reduction reaction (2e⁻ ORR) features distinct merits including mild reaction conditions and environmental friendliness, rendering it a promising alternative to the traditional anthraquinone process. Currently, developing electrocatalysts with high activity, high selectivity, and robust durability, as well as realizing synergistic optimization of electrodes, electrolytic devices, and operational parameters, constitute critical bottlenecks restricting the large-scale deployment of this technology. Accordingly, this review comprehensively summarizes recent progress on H₂O₂ electrosynthesis via the 2e⁻ ORR. We first elaborate fundamental reaction mechanisms and catalyst design strategies. Afterwards, the modulation effects of integrated device systems on catalytic activity, selectivity, and stability are analyzed from the aspects of electrode structure, reactor configuration, and key operational parameters. Finally, the challenges and prospective opportunities facing H₂O₂ electrosynthesis systems are proposed, offering insights to facilitate the further development of this emerging field.