Ultra-wide bandgap semiconductor material gallium oxide (β-Ga2O3) has the properties of high critical breakdown field strength, high electron saturation velocity, and large-size single crystal substrate grown by the melt method. It is expected to find wide applications in high-voltage and high-power fields such as future power grid, rail transit, and radar communication. Although electronic devices based on gallium oxide materials have achieved rapid development in the world, the research of gallium oxide-based radio frequency (RF) devices has been restricted by low carrier mobility and poor thermal conductivity of β-Ga2O3 materials. Firstly, this paper analyzes the development needs of high-voltage RF power devices, including higher power levels, smaller and lighter equipment, and more efficient systems. Then, the reasons why gallium oxide material is suitable for future high-voltage and high-power radio frequency devices are elaborated from four aspects: breakdown field strength, saturation velocity, wafer fabrication, and thermal management. Next, the relevant research progress on gallium oxide-based RF power devices is discussed, focusing on three types of device structures: metal-oxide-semiconductor field-effect transistors (MOSFETs) on homogeneous and heterogeneous substrates, and heterojunction field-effect transistors (HFETs). Finally, it is summarized that the two major obstacles to enhancing the performance of gallium oxide RF power devices are poor thermal conductivity and low current density. In addition, the research suggestions for future work in this field are also presented, such as heterogeneous integration with high-thermal-conductivity substrates, research on surface passivation techniques, and the reliability of devices in extreme environments, providing references for researchers in related fields.