In this review, we summarized the state-of-the-art progress on the ethanol performance of NiO by means of morphology, doping, loading noble metal particles, and forming heterojunctions. We first introduced the effect of modulating NiO morphology on ethanol performance that has been reported in recent years. The morphology with large specific surface area and high porosity was considered to be the one that can bring high gas response. Then, we discussed the enhanced effect of the doping of metal cations and noble metal particle loading on the ethanol-sensitive properties of NiO. Doping ions increased the ground-state resistance and increased the oxygen defect concentration of NiO. The effects of noble metal particles on the performance of NiO included chemical sensitization and electronic sensitization. Finally, the related contents of NiO forming complexes with metal oxides and bimetallic oxides were discussed. In this section, the specific improvement mechanism was discussed first, and then, the related work of researchers in recent years was summarized. At the same time, we presented a reasonable outlook for NiO-based ethanol sensors, imagining future directions.