Diabetes is a significant global health concern, affecting more than 540 million people worldwide and imposing a substantial financial burden on health systems and societies. This study evaluates the cost per patient of achieving treatment targets with oral semaglutide compared to empagliflozin, sitagliptin, and liraglutide in patients with Type 2 diabetes in Greece. The analysis focuses on seven outcomes, including hemoglobin A1C levels, avoidance of hypoglycemia, and weight loss, with costs calculated in 2024 EUR, excluding patient copayments. The annual treatment costs were EUR 1,210.04 for oral semaglutide, EUR 528.04 for empagliflozin, EUR 260.51 for sitagliptin, and EUR 1,542.87 for liraglutide. Although a higher proportion of patients achieved treatment goals with oral semaglutide, it was associated with a higher cost of control across most outcomes compared to empagliflozin (mean probabilistic sensitivity analysis [PSA] difference: EUR 839.45) and sitagliptin (mean PSA difference: EUR 1,041.50). In contrast, oral semaglutide demonstrated a consistently lower cost of control compared to liraglutide across all treatment targets (mean PSA difference: EUR −3,779.23). This analysis confirms that the cost of control of oral semaglutide varies significantly depending on the treatment target, suggesting that, without changes in its list or net price, it may not be the most cost-effective option compared to empagliflozin and sitagliptin in Greece.