Nanowires (NWs) and nanobelts (NBs) are diverse classes of one-dimensional nanoscale materials with controllable size, composition, structure and corresponding physical and chemical properties. This article reviews the novel growth phenomena, unique properties and exciting applications of oxide NWs and NBs. First, the article gives a general introduction about the vapor-liquid-solid (VLS) growth method. Second, the growth of oxide NBs using a vapor-solid (VS) process has been demonstrated. Third, using ZnO as an example, polar-surface dominated growth phenomena, such as the formation of single-crystal nanoring, nanospring and nanohelix, are comprehensively described. Then, novel techniques developed for characterizing the mechanical, electrical, thermal and optical properties of NWs and NBs are illustrated. Finally, some exciting applications in areas such as sensors, photon detectors and nanogenerators are presented. In concluding, the challenges and prospects for the future are discussed.