Water in the subcritical state is characterized by properties significantly different from water under standard conditions. These include low viscosity, low surface tension, and a much lower dielectric constant, increasing the solubility of nonpolar substances. For this reason, it can provide an alternative solvent and be used in chromatographic techniques—subcritical water chromatography (SBWC). SBWC appears to be one of the greenest analytical techniques until we unravel chromatography with pure water at room temperature. The versatility of SBWC is explored through its applications in the separation and analysis of a wide range of compounds, including pharmaceuticals, natural products, etc. The use of subcritical water as a mobile phase requires suitable stable stationary phases and special apparatus. Still, it makes it possible to conduct analyses without using organic solvents. When using this technique, it is important to remember that it suits the analysis of thermally stable substances. The following work is a critical review of developments in SBWC.