Solution-processed metal oxide thin-film transistors (TFTs) have emerged as a promising technology for next-generation large-area flexible electronics. TFTs are widely used as switching devices in a wide range of electronic applications, including displays, sensors, memory, and logic circuits. The use of solution process technology offers several advantages, such as low cost, simple process, high throughput, homogeneity, and excellent compositional control. The solution-based fabrication process enables the deposition of thin films on a wide range of substrates, including flexible and curved surfaces. In recent years, significant progress has been made in the development of oxide semiconductors and oxide dielectrics for solution-processed TFTs. These developments have led to improved device performance, including higher operating voltage, mobility, and on/off current ratio, among other factors. In this article, we discuss the progress made in the development of oxide semiconductors and oxide dielectrics for solution-processed TFTs. This study aims to provide a comprehensive understanding of the current state-of-the-art in solution-processed metal oxide TFTs. First, we present comprehensive summary of the key parameters of solution-processed metal oxides that are critical for building high-performance thin film transistors (TFTs), including sol-gel derived binary and ternary metal oxide dielectrics and semiconductors. Following that a detailed performance analysis of solution-processed TFTs in terms of their operating voltage, mobility, and on/off current ratio, among other factors has been summarized. Afterward, the applications of solution-processed TFTs fabricated using various techniques (e.g., spin coating, screen printing, and inkjet printing) are also discussed. We explore the role of solution-processed high-k dielectrics and the challenges associated with their growth for fabrication of high-performance TFTs. Finally, the future perspectives on how to improve the performance of solution-processed TFTs. Overall, this study provides valuable insights into the potential of solution-processed materials for use in next-generation portable electronics.