Surface-active ionic liquids (SAILs) are a subclass of ionic liquids (ILs), having an amphiphilic character that is surplus to the unique physiochemical properties inherited from the basic ILs. They have been particularly intriguing for their higher efficiency in reducing interfacial tension (IFT) between oil and water under harsh environmental conditions typically found in an oil reservoir. Ease of preparing task-specific SAILs has enabled many researchers to improve their amphiphilic functionality and efficacy in surfactant based enhanced oil recovery (EOR) processes. This review paper provides the current state of the art in this research area by discussing results published in the available literature and presenting their limitations. It also presents a deeper understanding and comparison of different SAILs used by various researchers in EOR applications. We also provide future perspectives anticipating that this review will stimulate further studies in this research area and form a basis for the selection of a particular SAIL for EOR schemes.