Superoxide ion (O2•–) is of great significance as a radical species implicated in diverse chemical and biological systems. However, the chemistry knowledge of O2•– is rather scarce. In addition, numerous studies on O2•– were conducted within the latter half of the 20th century. Therefore, the current advancement in technology and instrumentation will certainly provide better insights into mechanisms and products of O2•– reactions and thus will result in new findings. This review emphasizes the state-of-the-art research on O2•– so as to enable researchers to venture into future research. It comprises the main characteristics of O2•– followed by generation methods. The reaction types of O2•– are reviewed, and its potential applications including the destruction of hazardous chemicals, synthesis of organic compounds, and many other applications are highlighted. The O2•– environmental chemistry is also discussed. The detection methods of O2•– are categorized and elaborated. Special attention is given to the feasibility of using ionic liquids as media for O2•–, addressing the latest progress of generation and applications. The effect of electrodes on the O2•– electrochemical generation is reviewed. Finally, some remarks and future perspectives are concluded.