Carbon dioxide (CO2) is widely used as an enhancer for industrial applications, enabling the economical and energy-efficient synthesis of a wide variety of chemicals and reducing the CO2 levels in the environment. CO2 has been used as an enhancer in a catalytic system which has revived the exploitation of energy-extensive reactions and carry chemical products. CO2 oxidative dehydrogenation is a greener alternative to the classical dehydrogenation method. The availability, cost, safety, and soft oxidizing properties of CO2, with the assistance of appropriate catalysts at an industrial scale, can lead to breakthroughs in the pharmaceutical, polymer, and fuel industries. Thus, in this review, we focus on several applications of CO2 in oxidation and oxidative dehydrogenation systems. These processes and catalytic technologies can reduce the cost of utilizing CO2 in chemical and fuel production, which may lead to commercial applications in the imminent future.