Carbamazepine (CBZ) is an anticonvulsant drug, released in domestic and hospital wastewater, and one of the drugs most commonly detected in surface water. Conventionalsecondary processes do a very poor job of removing it (< 25%), but its concentrations aresignificantly reduced by polishing oxidation processes. However, there are still many unknowns regarding the transformation products generated and their fate. This review first presents the journey of CBZ and its transformation products (TPs) in wastewater, from human consumption to discharge in water bodies. It then goes on to detail the diversity of mechanisms responsible for CBZ degradation and the generation of multiple TPs, laying the emphasis on the different types of advanced oxidation processes (AOP). 135 TPs were reported and a map describing their formation/degradation pathways was drawn up. This work highlights the wide range of physicochemical properties and toxicity effects of TPs on aquatic organisms and provides information about TPs of interest for future research. Finally, this review concludes on the importance of quantifying TPs and of determining kinetic characteristics to produce more accurate reaction schemes and computer-based fate predictions.