Low-dimensional metal oxides-based electronic noses have been applied in various fields, such as food quality, environmental assessment, coal mine risk prediction, and disease diagnosis. However, the applications of these electronic noses are limited for conditions such as precise safety monitoring because electronic nose systems have problems such as poor recognition ability of mixed gas signals and sensor drift caused by environmental factors. Advanced algorithms, including classical gas recognition algorithms and neural network-based algorithms, can be good solutions for the key problems. Classical gas recognition methods, such as support vector machines, have been widely applied in electronic nose systems in the past. These methods can provide satisfactory results if the features are selected properly and the types of mixed gas are under five. In many situations, this can be challenging due to the drift of sensor signals. In recent years, neural networks have undergone revolutionary changes in the field of electronic noses, especially convolutional neural networks and recurrent neural networks. This paper reviews the principles and performances of typical gas recognition methods of the electronic nose up to now and compares and analyzes the classical gas recognition methods and the neural network-based gas recognition methods. This work can provide guidance for research in related fields.