Hysteresis is proven to have a significant role in petroleum fluids and other disciplines for better understanding and evaluation. This shows a need to be explicit about precisely what is meant by the word "hysteresis." For a long time, the term hysteresis has been used and has attracted the attention of most researchers and investigators. Despite its common usage, hysteresis is used in different disciplines to mean different things. Thus, hysteresis has many definitions depending on the book or paper's area of interest. While various definitions of the term 'hysteresis' have been suggested, this paper will focus on the definition in the oil and gas industry. Hysteretic impacts petroleum fluids either positively or negatively. Therefore, accurately estimating fluid properties curves is vital in evaluating hydrocarbon recovery processes. This paper addresses and discusses a comprehensive review of the hysteresis of different petroleum fluid properties and their applications. This paper reviews many fluid properties of hysteresis and investigates them experimentally. Numerous laboratory studies in hysteresis are present in the literature and critically reviewed and highlighted in this research. This paper aims to review the experimental processes of fluid hysteresis extensively. To satisfy this aim, this paper offers insights into and explanations for experiments that have been used in fluid hysteresis. The outcomes highlight some missing concepts of the existing models and experimental processes for fluid hysteresis. Furthermore, this paper tracks the current development of hysteresis and gives insight into the future trends in the application of hysteresis.