Electrospun metal oxide nanofibers, due to their unique structural and electrical properties, are now being considered as materials with great potential for gas sensor applications. This critical review attempts to assess the feasibility of these perspectives. The article in Part 1 discusses the basic principles of electrospinning and the features of the formation of metal oxide nanofibers using this method. Approaches to optimization of nanofibers’ parameters important for gas sensor application are also considered.