Formaldehyde (HCHO) is one of major pollutants in indoor air, and prolonged exposure to HCHO may result in great harm to human health. Therefore, it is crucial to remove HCHO from indoor air at room temperature. In recent years, various room temperature catalysts, which have the advantages of environmental friendliness and energy saving, were developed for high effective catalytic oxidation of HCHO. In this work, research progress and challenges on the room temperature catalytic oxidation of HCHO by using noble metal catalysts and non‐noble metal catalysts are systemically reviewed. Meanwhile, the room temperature catalytic oxidation performance, degradation conditions of HCHO, and room temperature catalytic oxidation mechanism of catalysts was also discussed.