Understanding the oxidation of silicon has been an ongoing challenge for many decades. Ozone has recently received considerable attention as an alternative oxidant in the low temperature, damage-free oxidation of silicon. The ozone-grown oxide was also found to exhibit improved interface and electrical characteristics over a conventionally dioxygen-grown oxide. In this review article, we summarize the key findings about this alternative oxidation process. We discuss the different methods of O(3) generation, and the advantages of the ozone-grown Si/SiO(2) interface. An understanding of the growth characteristics is of utmost importance for obtaining control over this alternative oxidation process.