The review paper provides a comprehensive analysis of nickel oxide (NiO) as an emerging material in environmental monitoring by surveying recent developments primarily within the last three years and reports the growth processing and strategies employed to enhance NiO sensing performance. It covers synthesis methods for pristine NiO, including vapor-phase, liquid-phase, and solution-processing techniques, highlighting advantages and limitations. The growth mechanisms of NiO nanostructures are explored, with a focus on the most recent research studies. Additionally, different strategies to improve the gas sensing performance of NiO are discussed (i.e., surface functionalization by metallic nanoparticles, heterostructure formation, carbon-based nanomaterials, and conducting polymers). The influence of these strategies on selectivity, sensitivity, response time, and stability of NiO-based sensors is thoroughly examined. Finally, the challenges and future directions that may lead to the successful development of highly efficient NiO-based gas sensors for environmental monitoring are introduced in this review.