The process of oxidizing polyacrylonitrile (PAN)-based carbon fibers converts them into an infusible and non-flammable state prior to carbonization. This represents one of the most important stages in determining the mechanical properties of the final carbon fibers, but the most commonly used methods, such as thermal treatment (200°C to 300°C), tend to waste a great deal of process time, money, and energy. There is therefore a need to develop more advanced oxidation methods for PAN precursor fibers. In this review, we assess the viability of electron beam, gamma-ray, ultra-violet, and plasma treatments with a view to advancing these areas of research and their industrial application.