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Abstract There has been surge in the usage of Internet as well as social media platforms which has led to rise in online hate speech targeted on individual or group. In the recent years, hate speech has resulted in one of the challenging problems that can unfurl at a fast pace on digital platforms leading to various issues such as prejudice, violence and even genocide. Considering the acceptance of Artificial Intelligence (AI) and Natural Language Processing (NLP) techniques in varied application domains, it would be intriguing to consider these techniques for automated hate speech detection. In literature, there have been efforts to recognize and categorize hate speech using varied Machine Learning (ML) and Deep Learning (DL) techniques. Hence, considering the need and provocations for hate speech detection we aim to present a comprehensive review that discusses fundamental taxonomy as well as recent advances in the field of online hate speech identification. There is a significant amount of literature related to the initial phases of hate speech detection. The background section provides a detailed explanation of the previous research. The subsequent section that follows is dedicated to examining the recent literature published from the year 2020 onwards. The paper presents some of the hate speech datasets considered for hate speech detection. Furthermore, the paper discusses different data modalities, namely, textual hate speech detection, multi‐modal hate speech detection and multilingual hate speech detection. Apart from systematic review on hate speech detection, the paper also implement several multi‐label models to compare the performance of hate speech detection by employing classic ML technique namely, Logistic Regression and DL technique namely, Long Short‐Term Memory (LSTM) and a multiclass multi‐label architecture. In the implemented architecture, we have derived two new elements to quantify the hatefulness and intensity of hatred to improve the results for hate speech detection using Indonesian tweet dataset. Empirical Analysis of the model reveals that the implemented approach outperforms and is able to achieve improved results for the underlying dataset.