In recent years, with the rapid development of nanotechnology, surface-enhanced Raman scattering (SERS) technology has been widely applied in various fields such as physical chemistry, materials science, surface science, and biology. Based on zinc oxide/metal composite SERS substrates, which have high Raman enhancement performance and excellent green cycling performance, they are gradually becoming one of the research hotspots in SERS technology. This article reviews the research progress on the mechanism, preparation, regulation, and application of zinc oxide composite SERS substrates, and analyzes the relevant research trends, thereby providing important references for the development of high-performance recyclable SERS substrates and the study of enhancement mechanisms.