Peel-and-stick process, or water-assisted transfer printing (WTP), represents an emerging process for transferring fully fabricated thin-film electronic devices with high yield and fidelity from a SiO2/Si wafer to various non-Si based substrates, including papers, plastics and polymers. This study illustrates that the fundamental working principle of the peel-and-stick process is based on the water-assisted subcritical debonding, for which water reduces the critical adhesion energy of metal-SiO2 interface by 70 ~ 80%, leading to clean and high quality transfer of thin-film electronic devices. Water-assisted subcritical debonding is applicable for a range of metal-SiO2 interfaces, enabling the peel-and-stick process as a general and tunable method for fabricating flexible/transparent thin-film electronic devices.