Nanozymes, a revolutionary category of engineered artificial enzymes based on nanomaterials, have been developed to overcome the inherent limitations of natural enzymes, such as the high cost associated with storage and their fragility. Carbon dots (CDs) have emerged as compelling candidates for various applications due to their versatile properties. Particularly noteworthy are CDs with a range of surface functional groups that exhibit enzyme-like behavior, combining exceptional performance with catalytic capabilities. This review explores the methodologies used for synthesizing CDs with enzyme mimicking capabilities, highlighting potential avenues such as doping and hybrid nanozymes to enhance their catalytic efficacy. Moreover, a comprehensive overview of CDs that mimick the activities of various oxidoreductases-like peroxidase, catalase, oxidase/laccase, and superoxide dismutase-like is provided. The focus is on the in-depth exploration of the mechanisms, advancements and practical applications of each oxidoreductase-like function exhibited by CD nanozymes. Drawing upon these exhaustive summaries and analyses, the review identifies the prevailing challenges that hinder the seamless integration of CDs into real-world applications and offers forward-looking perspectives for future directions.