In the era of rapid global industrialization, the problem of water pollution around the world has become an increasingly serious and urgent concern. Photo-Fenton catalysis has attracted extensive research interest as a simple, efficient, and clean method. In the process of exploring and researching photo-Fenton catalysts, cobalt ferrite (CoFe₂O₄) has been studied for its many advantages, such as good light stability, wide range of visible light utilization, magnetic recyclability, price-friendliness, and light-corrosion resistance. Furthermore, the flexible positions and valence changes of metal cations in the CoFe₂O₄ spinel structure endow it with abundant surface active sites and high Fenton catalytic activity. However, nanoscale particles and relatively narrow band gaps easily lead to large-scale agglomeration of particles and rapid recombination of photogenerated carriers. These are the main obstacles for pure CoFe₂O₄ nanocatalysts to exert their high catalytic activity. To better play the role of CoFe₂O₄ nanomaterials in organic wastewater treatment, this paper summarizes the main problems faced by the current photo-Fenton catalysis technology and introduces the basic properties, degradation mechanism, and preparation methods of CoFe₂O₄. More importantly, several effective and reliable modification strategies to enhance catalytic performance are also discussed, mainly including morphology control, element doping, defect introduction, and coupled composites, aiming to improve the design of CoFe₂O₄ photo-Fenton catalysts. This will lay the foundation for making full use of the excellent properties of CoFe₂O₄ catalysts in the field of organic wastewater treatment in the future.