Supercritical water oxidation (SCWO) is a promising wastewater treatment technology owing to its various advantages such as rapid reactions and non-polluting products. However, problems like corrosion and salt decomposition set obstacles to its commercialization. To address these problems, researchers have been developing the optimal reactor design and strengthening measures based on sufficient understandings of the degradation kinetics. The essence of the SCWO process and the roles of oxygen and hydrogen peroxide are summarized in this work. Then, the research status and progress of empirical models, semi-empirical models, and detailed chemical kinetic models (DCKMs) are systematically reviewed. Additionally, this paper is the first to summarize the research progress of quantum chemistry and molecular dynamics simulation. The challenge and further development of kinetics models for the optimization of reactors and the directional transformation of pollutants are pointed out.