Monitoring and detecting carbon monoxide (CO) are critical because this gas is toxic and harmful to the ecosystem. In this respect, designing high-performance gas sensors for CO detection is necessary. Zinc oxide-based materials are promising for use as CO sensors, owing to their good sensing response, electrical performance, cost-effectiveness, long-term stability, low power consumption, ease of manufacturing, chemical stability, and non-toxicity. Nevertheless, further progress in gas sensing requires improving the selectivity and sensitivity, and lowering the operating temperature. Recently, different strategies have been implemented to improve the sensitivity and selectivity of ZnO to CO, highlighting the doping of ZnO. Many studies concluded that doped ZnO demonstrates better sensing properties than those of undoped ZnO in detecting CO. Therefore, in this review, we analyze and discuss, in detail, the recent advances in doped ZnO for CO sensing applications. First, experimental studies on ZnO doped with transition metals, boron group elements, and alkaline earth metals as CO sensors are comprehensively reviewed. We then focused on analyzing theoretical and combined experimental–theoretical studies. Finally, we present the conclusions and some perspectives for future investigations in the context of advancements in CO sensing using doped ZnO, which include room-temperature gas sensing.