Titanium dioxide (TiO2) has attracted increasing attention as a candidate for the photocatalytic reduction of carbon dioxide (CO2) to convert anthropogenic CO2 gas into fuels combined with storage of intermittent and renewable solar energy in forms of chemical bonds for closing the carbon cycle. However, pristine TiO2 possesses a large band gap (3.2 eV), fast recombination of electrons and holes, and low selectivity for the photoreduction of CO2. Recently, considerable progress has been made in the improvement of the performance of TiO2 photocatalysts for CO2 reduction. In this review, we first discuss the fundamentals of and challenges in CO2 photoreduction on TiO2-based catalysts. Next, the recently emerging progress and advances in TiO2 nanostructured and hybrid materials for overcoming the mentioned obstacles to achieve high light-harvesting capability, improved adsorption and activation of CO2, excellent photocatalytic activity, the ability to impede the recombination of electrons-holes pairs, and efficient suppression of hydrogen evolution are discussed. In addition, approaches and strategies for improvements in TiO2-based photocatalysts and their working mechanisms are thoroughly summarized and analyzed. Lastly, the current challenges and prospects of CO2 photocatalytic reactions on TiO2-based catalysts are also presented.