O2-assisted oxidative dehydrogenation of propane (O2-ODHP) technology could convert abundant shale gas into propylene as an important chemical raw material, meaning O2-ODHP has practical significance. Thermodynamically, high temperature is beneficial for O2-ODHP, however, high reaction temperature always causes the overoxidation of propylene, leading to a decline in its selectivity. In this regard, it is crucial to achieve low temperatures while maintaining high efficiency and selectivity during O2-ODHP. The appearance of catalytic technology provides more opportunities for achieving high-efficiency O2-ODHP under mild conditions. Up to now, many kinds of catalytic systems have been elaborately designed, including transition metal oxide catalysts (such as vanadium-based catalysts, molybdenum-based catalysts, etc.), transition metal-based catalysts (such as Pt nanoclusters), rare earth metal oxide catalysts (especially CeO2 related catalysts), and non-metallic catalysts (BN, other B-containing catalysts, and C-based catalysts). In this review, we summarized the development progress of the mainstream catalysts in O2-ODHP, aiming at providing a clear picture to the catalysis community and advancing this research field further.