As silicon-based transistors advance toward sub-3-nm process nodes, issues such as excessive leakage current and parasitic effects pose severe constraints on further performance scaling. Carbon nanotubes (CNTs) have emerged as a leading candidate for overcoming the performance limitations of conventional semiconductor radio-frequency (RF) devices, thanks to their intrinsic advantages, including high carrier mobility, high saturation velocity, and low parasitic parameters. This paper systematically reviews recent progress in RF electronics based on aligned carbon nanotube arrays. It introduces a comprehensive performance evaluation framework encompassing key electrical metrics (e.g., threshold voltage and transconductance) as well as RF figures of merit, including current gain cutoff frequency (f_T), maximum oscillation frequency (f_max), 1 dB gain compression point (P_1dB), and input third-order intercept point (IIP3). The technological advancements in chemical vapor deposition (CVD) and solution-based deposition techniques are discussed, highlighting the realization of wafer-scale (10 cm silicon wafer) aligned CNT arrays with high orientation and ultra-high purity (>99.9999%). Structural innovations in carbon-based RF devices—including T-gate and Y-gate architectures—are summarized, along with their associated performance breakthroughs. Notably, in 2025, a Y-gate CNT device achieved an f_max of 1024 GHz, representing the first breakthrough into the terahertz frequency regime. The operating principles and performance advantages of carbon-based RF circuits, such as amplifiers, mixers, and phase shifters, are analyzed in detail. Among these, millimeter-wave RF amplifiers have exhibited overall performance metrics that approach commercial-grade standards. Finally, the application potential of this technology in 5G-Advanced/6G communications, millimeter-wave radar, and flexible electronics is explored. The paper also addresses current industrialization challenges—including diameter uniformity, contact resistance optimization, and high-frequency packaging—that hinder the scaling of this technology from laboratory research to practical applications.