Chitosan is a biopolymer with high added value, and its properties are related to its molecular weight. Thus, high molecular weight values provide low solubility of chitosan, presenting limitations in its use. Based on this, several studies have developed different hydrolysis methods to reduce the molecular weight of chitosan. Acid hydrolysis is still the most used method to obtain low molecular weight chitosan and chitooligosaccharides. However, the use of acids can generate environmental impacts. When different methods are combined, gamma radiation and microwave power intensity are the variables that most influence acid hydrolysis. Otherwise, in oxidative hydrolysis with hydrogen peroxide, a long time is the limiting factor. Thus, it was observed that the most efficient method is the association between the different hydrolysis methods mentioned. However, this alternative can increase the cost of the process. Enzymatic hydrolysis is the most studied method due to its environmental advantages and high specificity. However, hydrolysis time and process cost are factors that still limit industrial application. In addition, the enzymatic method has a limited association with other hydrolysis methods due to the sensitivity of the enzymes. Therefore, this article seeks to extensively review the variables that influence the main methods of hydrolysis: acid concentration, radiation intensity, potency, time, temperature, pH, and enzyme/substrate ratio, observing their influence on molecular weight, yield, and characteristic of the product.