CO2 methanation is attracting attention as a solution for carbon neutrality and an alternative to fossil fuel depletion. It is also promising as a power to gas (P2G) technology that can store residual energy that occurs intermittently due to the expansion of renewable energy. In this review, we investigated recent research trends on Ni/CeO2 catalysts, which exhibit high activity at low temperatures among various catalysts for CO2 methanation. In particular, by comparing the morphological characteristics, specific surface area, and reducibility of the catalysts that can affect the methanation performance, the main factors of the catalysts were organized, and the key factors were proposed. In addition, various proposals for the mechanism of the methanation reaction were reviewed, and the research direction for the future development of Ni/CeO2 catalysts was suggested.