Resistive random access memory (RRAM) based on reversible bistable resistance switching effect is attracting much attention for its superior properties such as nonvolatility, long retention time, simple device structure, small size, and low operating voltage. The unique resistance switching properties have been observed in some binary transition metal oxides, perovskite oxides, and organic molecular materials. This paper briefly reviews the status and new progress on binary transition metal oxide thin film materials such as NiO, TiO2, ZrO2, ZnO, and their multilayered thin films and metal nanocomposite thin films, for resistive random access memory applications, and also presents some of our own research work in this field. There is no doubt that study on transition metal oxide thin films for RRAM application will have been a topic of great interest in the forthcoming years, and it is expected that better understanding of physical mechanisms for the bistable resistance switching of the transition metal oxide thin films sandwiched between two metal electrodes can be achieved.