The residual organic pollutants in aquaculture water make the water quality decline, affect the quality of aquatic products, and hinder the sustainable development of aquaculture industry. The photo-Fenton oxidation technology, which introduces the sunlight into the traditional Fenton system, has become one of the research hotspots in the field of water treatment due to its wide pH response range, high yield of reactive radical, and high mineralization efficiency of organic pollutants. This paper systematically summarizes the basic principle of photo-Fenton oxidation technology, analyzes the common types of catalysts in the photo-Fenton oxidation system, the factors affecting the efficiency of the photo-Fenton oxidation system and its application in the treatment of typical emerging contaminants in water. It is pointed out that the development of a new catalyst to achieve in-situ photochemical generation of H2O2 and to improve the stability and recyclability of the catalyst is the key to realize the engineering application of photo-Fenton oxidation system, which provides a theoretical support for the application of this technology in aquaculture water treatment.