Carbon dioxide (CO 2 ) hydrogenation to methanol with H 2 produced with renewable energy represents a promising path for the effective utilization of a major anthropogenic greenhouse gas, in which catalysts play a key role for CO 2 conversion and methanol selectivity. Although still under development, indium oxide (In 2 O 3 )-based catalysts have attracted great attention in recent years due to the excellent selectivity to methanol along with high activity for CO 2 conversion. In this review, we discuss recent advances of In 2 O 3 -based catalysts for CO 2 hydrogenation based on both experimental and computational studies. Various strategies have been adopted to improve the catalytic performance by facilitating the formation of surface oxygen vacancies (In 2 O 3−x ) as active sites, the activation of CO 2 and H 2 toward hydrogenation to methanol to mitigate reverse water−gas shift reaction, and the stabilization of the key intermediates. Mechanistic insights are gained from combining catalytic kinetic studies, in situ characterization, and theoretical investigations involving CO 2 conversion via the formate HCOO* pathway versus the carboxyl COOH* pathway. Strategies to further promote selective CO 2 hydrogenation to methanol include adding a metal component such as Pd or Ni on In 2 O 3 (which may also involve formation of bimetallic In−M catalysts) to promote H 2 activation and oxygen vacancy formation, combining In 2 O 3 with an oxide promoter such as ZrO 2 to enhance CO 2 adsorption and activation, controlling the concentration of CO and H 2 O to enhance methanol formation, and adopting a second catalytic component to enhance CO 2 conversion to other desired products such as olefins or aromatics on an acid catalyst such as zeolites. Through a comprehensive overview of the recent advances in In 2 O 3related catalysts, the present review paves the way for future development in In 2 O 3 -based selective catalysts for CO 2 hydrogenation to methanol.