Methane is one of the promising alternatives to non-renewable petroleum resources since it can be transformed into added-value hydrocarbon feedstocks through suitable reactions. The conversion of methane to methanol with a higher chemical value has recently attracted much attention. The selective oxidation of methane to methanol is often considered a “holy grail” reaction in catalysis. However, methanol production through the thermal catalytic process is thermodynamically and economically unfavorable due to its high energy consumption, low catalyst stability, and complex reactor maintenance. Photocatalytic technology offers great potential to carry out unfavorable reactions under mild conditions. Many in-depth studies have been carried out on the photocatalytic conversion of methane to methanol. This review will comprehensively provide recent progress in the photocatalytic oxidation of methane to methanol based on materials and engineering perspectives. Several aspects are considered, such as the type of semiconductor-based photocatalyst (tungsten, titania, zinc, etc.), structure modification of photocatalyst (doping, heterojunction, surface modification, crystal facet re-arrangement, and electron scavenger), factors affecting the reaction process (physiochemical characteristic of photocatalyst, operational condition, and reactor configuration), and briefly proposed reaction mechanism. Analysis of existing challenges and recommendations for the future development of photocatalytic technology for methane to methanol conversion is also highlighted.