Volatile organic compounds (VOCs) are considered to be the most recalcitrant gaseous pollutants due to their high toxicity, diversity, complexity, and stability. Gas-solid catalytic oxidation methods have been intensively studied for VOC treatment while being greatly hampered by energy consumption, catalyst deactivation, and byproduct formation. Recently, aqueous advanced oxidation processes (AOPs) have attracted increasing interest for the deep oxidation of VOCs at room temperature, owing to the generation of abundant reactive oxygen species (ROS). However, current reviews mainly focus on VOC degradation performance and have not clarified the specific reaction process, degradation products, and paths of VOCs in different AOPs. This study systematically reviews recent advances in the application of aqueous AOPs for gaseous VOC removal. First, the VOC gas-liquid mass transfer and chemical oxidation processes are presented. Second, the latest research progress of VOC removal by various ROS is reviewed to study their degradation performances, pathways, and mechanisms. Finally, the current challenges and future strategies are discussed from the perspectives of synergistic oxidation of VOC mixtures, accurate oxidation, and resource utilization of target VOCs via aqueous AOPs. This perspective provides the latest information and research inspiration for the future industrial application of aqueous AOPs for VOC waste gas treatment.