The increased demand for miniature components has drawn the attention of researchers, engineers, and industry users to manufacture precision micro and mesoholes on foils, sheets, and plates made from a variety of engineering materials. These days, micro-drilling is extensively being adopted as a fundamental operation in all kinds of smart manufacturing industries to make different types of microholes, such as through holes, blind holes, and taper holes on micro-parts and components. Drilled holes with a diameter of less than 1 mm are referred to as microholes, while drilled holes whose diameter ranges between 1 and 10 mm are known as mesoholes. Meso and microholes are commonly referred to as fine-holes. Modern or advanced drilling processes are mostly used to drill microholes from a variety of materials. This paper presents an extensive review of the previous research conducted on the drilling of fine holes (meso and micro size) by spark- erosion-based processes along with highlighting work and tool electrode materials, specifications of drilled holes, types of microholes (through or blind holes), process parameters, performance measures, and key findings. The paper aims to facilitate researchers and scholars by highlighting the capabilities of spark erosion machining, drilling, and its variants to fabricate miniature holes. The paper ends with a conclusion and future research directions to encourage further work in this area.