Sonodynamic treatment (SDT) is a new non-invasive treatment method developed from photodynamic treatment (PDT). Due to the deeper radiation distance and no phototoxicity characteristics, it gradually replaces traditional PDT. Oxygen is an important part of the SDT in anti-tumor process, but the tumor has been in a hypoxic microenvironment for a long time, which greatly limits the efficacy of SDT. Nanomaterials can flexibly respond to the hypoxic characteristics of the tumor microenvironment and provide effective oxygen supply strategies to enhance the anti-tumor effect of SDT. At present, there are few reviews on nanomaterials to improve the antitumor efficacy of SDT by improving hypoxia, so this review briefly introduces the mechanism of SDT, mainly discusses the progress of nanomaterials in improving tumor hypoxia and enhancing the sonodynamic efficacy.