Semiconducting silicon carbide (4H-SiC) exhibits characteristics of high hardness, notable brittleness, and excellent chemical stability. The commonly employed technique for achieving an ultra-smooth and flat surface is chemical mechanical polishing (CMP), which is utilized to process the 4H-SiC surface. Wet oxidation, as an important process of chemical-mechanical polishing of single-crystal 4H-SiC, directly affects the rate and surface quality of CMP. This paper provides a comprehensive overview of the current research status of wet oxidation of single-crystal 4H-SiC. It discusses the oxidants used in the wet oxidation of 4H-SiC, such as KMnO4, H2O2, K2S2O8. Based on this, it further summarizes commonly employed oxidation-enhancement methods, including photocatalytic-assisted oxidation, electrochemical oxidation, and Fenton reaction. The mechanism of wet oxidation of single-crystal 4H-SiC is analyzed from the aspect of theoretical calculation, and the future research direction of wet oxidation of 4H-SiC is proposed.