Formaldehyde, the simplest molecule of the aldehyde group, is a gaseous compound at room temperature and pressure, is colorless, and has a strong, pungent odor. It is soluble in water, ethanol, and diethyl ether and is used in solution or polymerized form. Its maximum daily dosage established by the EPA is 0.2 μg g−1 of body weight whereas that established by the WHO is between 1.5 and 14 mg g−1: it is in category 1A of carcinogens by IARC. From an analytical point of view, formaldehyde is traditionally analyzed by HPLC with UV-Vis detection. Nowadays, the need to analyze this compound quickly and in situ is increasing. This work proposes a critical review of methods for analyzing formaldehyde in food using sensing methods. A search carried out on the Scopus database documented more than 50 papers published in the last 5 years. The increase in interest in the recognition of the presence of formaldehyde in food has occurred in recent years, above all due to an awareness of the damage it can cause to human health. This paper focuses on some new sensors by analyzing their performance and comparing them with various no-sensing methods but focusing on the determination of formaldehyde in food products. The sensors reported are of various types, but they all share a good LOD, good accuracy, and a reduced analysis time. Some of them are also biodegradable and others have a very low cost, many are portable and easy to use, therefore usable for the recognition of food adulterations on site.