<p>Compared with traditional materials utilized in the process of separating oil from water, superhydrophobic materials offer distinct advantages, including improved separation efficiency, long-term stability, low energy consumption, wide adaptability, and recyclability, providing an effective solution for oil–water separation. In this review, we utilize the principles of liquid wetting on solid surfaces in air, water, and oil, coupled with oil–water separation mechanisms, to systematically explore advancements and preparation methods of superhydrophobic materials. These materials, including membranes, metallic porous structures, porous polymers, fabric-based options, and biodegradable alternatives (e.g., polylactic acid/carnauba wax composites, cellulose-based papers, and various aerogels), are specifically designed for efficient oil–water separation in marine oil spill cleanup, industrial wastewater treatment, emulsified liquid separation, and domestic sewage management. In addition, this study offers a concise classification of superhydrophobic materials for oil–water separation into adsorptive/separative and separative types. Adsorptive/separative materials feature cost-effective metal foam/polymer sponges for robust applications and durable aerogels for specialized scenarios. Separative materials include precise yet fragile membranes, high flux but costly metal meshes, eco-friendly and high-performing fabrics, and accurate yet mechanically delicate and costly biodegradable papers. Finally, the review identifies key challenges and proposes future research priorities in the development of superhydrophobic materials aimed at separating oil and water.</p>