Recent advancements in the field of room-temperature ferromagnetic metal oxide semiconductors (RTFMOS) have revealed their promising potential for enhancing photocatalytic performance. This review delves into the combined investigation of the photocatalytic and ferromagnetic properties at room temperature, with a particular focus on metal oxides like TiO2, which have emerged as pivotal materials in the fields of magnetism and environmental remediation. Despite extensive research efforts, the precise mechanism governing the interplay between ferromagnetism and photocatalysis in these materials remains only partially understood. Several crucial factors contributing to magnetism, such as oxygen vacancies and various metal dopants, have been identified. Numerous studies have highlighted the significant role of these factors in driving room-temperature ferromagnetism and photocatalytic activity in wide-bandgap metal oxides. However, establishing a direct correlation between magnetism, oxygen vacancies, dopant concentration, and photocatalysis has posed significant challenges. These RTFMOS hold immense potential to significantly boost photocatalytic efficiency, offering promising solutions for diverse environmental- and energy-related applications, including water purification, air pollution control, and solar energy conversion. This review aims to offer a comprehensive overview of recent advancements in understanding the magnetism and photocatalytic behavior of metal oxides. By synthesizing the latest findings, this study sheds light on the considerable promise of RTFMOS as effective photocatalysts, thus contributing to advancements in environmental remediation and related fields.