VO2 films are widely used in photoelectric switches, smart glasses, storage media, and terahertz communications. In these applications, microfabrication technology is a very important process for producing microdevices or even improving film properties. In this paper, a novel photoetching microfabrication method is proposed for VO2 thin films. First, a VO2 precursor sol with ultraviolet photosensitivity was prepared using vanadyl acetylacetonate as the raw material and anhydrous methanol as the solvent. The dip-coated VO2 gel film can be directly subjected to photolithography processing without coating additional photoresist by using the photosensitive sol. A fine pattern on the VO2 film with good phase-transition performance can be obtained after annealing in a nitrogen atmosphere at 550 °C for 1 h. This method can be used to prepare grating, microarray, and various other fine patterns with the remarkable advantages of a low cost and simplified process, and the as-obtained material performances are unaffected using the method. It is a potential alternative method for optics, electronics, and magnetics devices based on VO2 thin films.