Ethylene acts as an important hormone to trigger the ripening and senescence of fruits and vegetables (F&V). Thus, it is essential to eliminate trace ethylene and prevent F&V losses effectively. There are several technologies currently applying to control the ethylene concentration in the storage and transportation environment, including adsorption, gene modification, oxidation, etc. These protocols will be compared, and special attention will be paid to the low-temperature catalytic oxidation that has already been applied to practical production in this review. The active sites, supports, and reaction and deactivation mechanism of the catalysts for the low-temperature ethylene oxidation will be discussed and evaluated systematically to provide new insights for the development of effective catalysts, along with the suggestion of some perspectives for future research on this important catalytic system for F&V preservation.