Renewable energy electrolysis of water to produce hydrogen is an effective measure to break the energy dilemma. However, achieving activity and stability at a high current density is still a key problem in water electrolyzers. Transition metal phosphides (TMPs), with high activity and relative inexpensiveness, have become excellent candidates for the production of highly pure green hydrogen for industrial applications. In this mini-review, multilevel regulation strategies including nanoscale control, surface composition and interface structure design of high-performance TMPs for hydrogen evolution are systematically summarized. On this basis, in order to achieve large-scale hydrogen production in industry, the hydrogen evolution performance and stability of TMPs at a high current density are also discussed. Peculiarly, the practical application and requirements in proton exchange membrane (PEM) or anion exchange membrane (AEM) electrolyzers can guide the advanced design of regulatory strategies of TMPs for green hydrogen production from renewable energy. Finally, the challenges and prospects in the future development trend of TMPs for efficient and industrial water electrolysis are given.