Peroxidases are hemoenzymes with a wide range of applications, from fine chemical synthesis to environmental biocatalysis. These outstanding biocatalysts are able to catalyze reactions such as heteroatom oxidation (N- and S-oxidation), epoxidation, hydroxylation, and the oxidation of alcohols and indole, often giving high yields and enantiomeric excess values. This makes these biocatalysts very useful for application to several biotechnological processes. In this paper, recent advances and patents surrounding the use of peroxidases are reviewed, covering different aspects related to the applications of peroxidases and the modifications carried out to improve their functionality as biocatalysts.