Abstract: Thyroid-associated ophthalmopathy (TAO), the most common extrathyroidal manifestation of Graves’ disease, is an autoimmune disorder affecting the orbital and periorbital tissues. Although the exact etiology of TAO remains to be fully elucidated, accumulating evidence has confirmed that oxidative stress plays a central role in driving its pathological progression. Oxidative stress not only directly damages orbital tissues but also promotes the initiation and development of the disease by modulating immune responses and tissue remodeling. In recent years, multiple studies demonstrate that antioxidants can ameliorate TAO symptoms by scavenging reactive oxygen species and alleviating orbital tissue oxidative damage. This review systematically summarizes the role of oxidative stress in the pathogenesis of TAO, associated risk factors, and therapeutic strategies targeting oxidative stress, with the aim of providing new insights for the precise diagnosis and treatment of this disease.