Detecting environmental contaminants is crucial for protecting ecosystems and human health. While traditional carbon dot (CD) fluorescent probes are versatile, they may suffer from limitations like fluctuations in signal intensity, leading to detection inaccuracies. In contrast, ratiometric fluorescent probes, designed with internal self-calibration mechanisms, offer enhanced sensitivity and reliability. This review focuses on the design and applications of ratiometric fluorescent probes based on CDs for environmental monitoring. Our discussion covers construction strategies, ratiometric fluorescence principles, and applications in detecting various environmental contaminants, including organic pollutants, heavy metal ions, and other substances. We also explore associated advantages and challenges and provide insights into potential solutions and future research directions.