Titanium dioxide (TiO2) nanomaterials have garnered extensive scientific interest since 1972 and have been widely used in many areas, such as sustainable energy generation and the removal of environmental pollutants. Although TiO2 possesses the desired performance in utilizing ultraviolet light, its overall solar activity is still very limited because of a wide bandgap (3.0–3.2 eV) that cannot make use of visible light or light of longer wavelength. This phenomenon is a deficiency for TiO2 with respect to its potential application in visible light photocatalysis and photoelectrochemical devices, as well as photovoltaics and sensors. The high overpotential, sluggish migration, and rapid recombination of photogenerated electron/hole pairs are crucial factors that restrict further application of TiO2. Recently, a broad range of research efforts has been devoted to enhancing the optical and electrical properties of TiO2, resulting in improved photocatalytic activity. This review mainly outlines state-of-the-art modification strategies in optimizing the photocatalytic performance of TiO2, including the introduction of intrinsic defects and foreign species into the TiO2 lattice, morphology and crystal facet control, and the development of unique mesocrystal structures. The band structures, electronic properties, and chemical features of the modified TiO2 nanomaterials are clarified in detail along with details regarding their photocatalytic performance and various applications.