This review presents a comprehensive overview of the recent advances in the chemistry and applications of 2,4-dihydroxybenzaldehyde oxime (DHBO) and its transition metal complexes. DHBO, characterized by its unique hydroxyl and oxime functional groups, has gained significant attention due to its versatile reactivity and potential applications across various fields, including pharmaceuticals, catalysis, and environmental science. Recent synthetic methodologies, including microwave-assisted techniques and green chemistry approaches, have improved the efficiency and sustainability of DHBO production. The formation of transition metal complexes with DHBO has been a focal point of research, revealing enhanced catalytic properties and biological activities compared to the free ligand. These complexes have shown promise in organic synthesis, particularly in oxidation and reduction reactions, as well as in drug development, exhibiting antimicrobial and anticancer properties. Furthermore, the potential of DHBO and its metal complexes in environmental remediation, particularly in removing heavy metals and pollutants, underscores their significance in addressing contemporary environmental challenges. This review also provides current knowledge on the synthesis, characterization, and applications of DHBO and its transition metal complexes, highlighting their importance in both academic research and industrial applications. By elucidating the multifaceted roles of DHBO, this work aims to pave the way for future research and innovation in this promising area of study.