Ozone (O3) is an emerging eco‐friendly technology that has been widely used in the beverage industry due to its broad spectrum of usages, such as fermentation, microbial inactivation, Clean‐in‐Place (CIP) systems, and postharvest treatment. Wine is among the most financially profitable sectors of the beverage industry. Ozone technology as an alternative approach to conventional methods to inhibit microbes in wine processing and wineries has attracted researchers' attention as this emerging technology will probably play important roles in wineries in the future. This review discusses the prospective applications of ozone in winemaking and wineries and elaborates on ozone's antimicrobial effects on the control of the broad spectrum of microorganisms during wine processing. Also, this paper provides discussions on its effects of O3 on wine quality and the benefits this emerging technology can bring to wineries. Ozone treatments can improve yeast fermentation by impacting the yeast ecology of postharvested wine grapes, mainly by affecting apiculate yeasts and adjusting the population of undesirable yeasts, such as Brettanomyces spp., during the fermentation process. Furthermore, ozone treatment may enhance wine's anthocyanin concentration, physicochemical properties, color, pH, oxidative stability, and concentration of pleasant volatile compounds and esters. This article presents important information to have a better understanding of the impact of ozone treatment on different stages of wine preparation.